WEC Energy Group, Inc. $WEC Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 15.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 177,891 shares of the utilities provider’s stock after selling 32,201 shares during the period. Commonwealth Equity Services LLC owned 0.06% of WEC Energy Group worth $20,385,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. AlphaCore Capital LLC boosted its stake in shares of WEC Energy Group by 32.3% in the second quarter. AlphaCore Capital LLC now owns 10,333 shares of the utilities provider’s stock valued at $1,077,000 after buying an additional 2,525 shares in the last quarter. Richmond Investment Services LLC raised its position in WEC Energy Group by 92.8% in the second quarter. Richmond Investment Services LLC now owns 11,773 shares of the utilities provider’s stock worth $1,227,000 after acquiring an additional 5,666 shares in the last quarter. Legal & General Group Plc lifted its holdings in WEC Energy Group by 6.7% in the second quarter. Legal & General Group Plc now owns 2,609,802 shares of the utilities provider’s stock valued at $271,941,000 after acquiring an additional 162,963 shares during the period. Caldwell Trust Co purchased a new stake in shares of WEC Energy Group during the 2nd quarter worth $1,823,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of WEC Energy Group during the 3rd quarter worth $2,979,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WEC. KeyCorp reduced their price objective on shares of WEC Energy Group from $123.00 to $117.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Wells Fargo & Company assumed coverage on WEC Energy Group in a research note on Monday, October 27th. They set an “overweight” rating and a $124.00 price target on the stock. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, TD Cowen initiated coverage on WEC Energy Group in a report on Thursday, October 16th. They set a “hold” rating and a $125.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target of $120.64.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $105.23 on Friday. The company has a 50-day simple moving average of $108.04 and a 200-day simple moving average of $109.10. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The company has a market cap of $34.23 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.58. WEC Energy Group, Inc. has a 12 month low of $92.85 and a 12 month high of $118.18.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 13th will be paid a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.89. WEC Energy Group’s dividend payout ratio is 67.49%.

WEC Energy Group Profile

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.