WEC Energy Group, Inc. $WEC Position Increased by Truist Financial Corp

Truist Financial Corp increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 6.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 174,551 shares of the utilities provider’s stock after acquiring an additional 9,855 shares during the period. Truist Financial Corp’s holdings in WEC Energy Group were worth $18,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in shares of WEC Energy Group by 14.3% during the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 93 shares during the last quarter. Clean Yield Group boosted its stake in WEC Energy Group by 12.6% during the 1st quarter. Clean Yield Group now owns 867 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 97 shares during the period. Premier Path Wealth Partners LLC boosted its stake in WEC Energy Group by 3.0% during the 1st quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider’s stock valued at $363,000 after purchasing an additional 98 shares during the period. Callan Capital LLC boosted its stake in WEC Energy Group by 2.7% during the 1st quarter. Callan Capital LLC now owns 3,845 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of WEC Energy Group by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the utilities provider’s stock valued at $1,864,000 after buying an additional 100 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group set a $107.00 price target on WEC Energy Group and gave the stock a “neutral” rating in a research note on Friday, July 11th. Citigroup began coverage on WEC Energy Group in a research note on Friday. They issued a “buy” rating and a $131.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a report on Saturday, September 27th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.30.

Insider Activity

In other news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the sale, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. This represents a 14.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the sale, the executive vice president directly owned 5,829 shares in the company, valued at $643,113.57. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock valued at $7,581,132 in the last ninety days. 0.50% of the stock is owned by company insiders.

WEC Energy Group Trading Up 1.1%

Shares of WEC Energy Group stock opened at $113.24 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The firm has a market cap of $36.45 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.08 and a beta of 0.47. The business has a fifty day simple moving average of $109.36 and a 200-day simple moving average of $107.38. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $114.97.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business earned $0.67 earnings per share. WEC Energy Group’s revenue for the quarter was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.39%.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.