Resources Management Corp CT ADV Sells 460 Shares of WEC Energy Group, Inc. $WEC

Resources Management Corp CT ADV trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,409 shares of the utilities provider’s stock after selling 460 shares during the quarter. Resources Management Corp CT ADV’s holdings in WEC Energy Group were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WEC. Nuveen LLC bought a new stake in WEC Energy Group during the first quarter worth about $403,372,000. GAMMA Investing LLC grew its stake in WEC Energy Group by 12,777.6% during the first quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider’s stock worth $199,872,000 after buying an additional 1,819,782 shares during the last quarter. Janus Henderson Group PLC grew its stake in WEC Energy Group by 3,815.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider’s stock worth $138,342,000 after buying an additional 1,433,522 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of WEC Energy Group by 34.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after purchasing an additional 1,349,522 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of WEC Energy Group by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after purchasing an additional 726,267 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

Shares of WEC stock opened at $107.71 on Monday. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $111.90. The stock has a market cap of $34.67 billion, a PE ratio of 20.63, a PEG ratio of 2.96 and a beta of 0.44. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The firm’s 50 day moving average price is $107.46 and its two-hundred day moving average price is $106.72.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $0.67 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were paid a $0.8925 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.39%.

Analyst Ratings Changes

Several research firms have recently commented on WEC. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. The Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the company a “neutral” rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.40.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.73, for a total value of $3,875,550.00. Following the sale, the director directly owned 274,969 shares in the company, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Anthony Reese sold 4,177 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the sale, the vice president owned 1,757 shares in the company, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by company insiders.

About WEC Energy Group

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.