Focus Financial Network Inc. Buys 677 Shares of WEC Energy Group, Inc. $WEC

Focus Financial Network Inc. raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,927 shares of the utilities provider’s stock after purchasing an additional 677 shares during the period. Focus Financial Network Inc.’s holdings in WEC Energy Group were worth $618,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WEC. Nuveen LLC acquired a new position in WEC Energy Group during the first quarter valued at approximately $403,372,000. GAMMA Investing LLC increased its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 worth $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $556,191,000 after buying an additional 726,267 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of WEC Energy Group by 1,529.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after buying an additional 665,681 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 35,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the sale, the director owned 274,969 shares of the company’s stock, valued at $30,447,317.37. The trade was a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott J. Lauber sold 9,231 shares of the company’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock valued at $7,581,132 over the last three months. Corporate insiders own 0.50% of the company’s stock.

WEC Energy Group Trading Up 0.7%

NYSE:WEC opened at $110.23 on Friday. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $111.90. The firm has a 50-day moving average price of $108.42 and a two-hundred day moving average price of $106.96. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 3.03 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.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data 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 company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm earned $0.67 EPS. WEC Energy Group’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. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were given a dividend of $0.8925 per share. 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 payout ratio is currently 68.39%.

Wall Street Analyst Weigh In

WEC has been the subject of several research analyst reports. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. The Goldman Sachs Group downgraded 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 report on Wednesday, June 25th. Finally, UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the stock a “neutral” rating in a report on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $106.89.

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.