WEC Energy Group, Inc. $WEC Shares Acquired by Old North State Wealth Management LLC

Old North State Wealth Management LLC raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,376 shares of the utilities provider’s stock after purchasing an additional 133 shares during the quarter. Old North State Wealth Management LLC’s holdings in WEC Energy Group were worth $352,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at about $25,000. Nova Wealth Management Inc. bought a new position in shares of WEC Energy Group during the first quarter valued at approximately $26,000. Hughes Financial Services LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $32,000. Finally, WPG Advisers LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $35,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $111.24 on Friday. The stock has a market cap of $35.80 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.08 and a beta of 0.44. The firm’s 50-day simple moving average is $108.85 and its 200 day simple moving average is $107.08. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $112.88. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. WEC Energy Group’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were issued a $0.8925 dividend. The ex-dividend date was Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio is 68.39%.

Analyst Ratings Changes

Several brokerages have weighed in on WEC. Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a “neutral” rating in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $106.89.

Insider Activity

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were 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 approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president directly owned 6,606 shares of the company’s stock, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 over the last quarter. Insiders own 0.50% of the company’s stock.

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.