HB Wealth Management LLC Buys 5,004 Shares of WEC Energy Group, Inc. $WEC

HB Wealth Management LLC increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 56.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,852 shares of the utilities provider’s stock after buying an additional 5,004 shares during the period. HB Wealth Management LLC’s holdings in WEC Energy Group were worth $1,587,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of WEC Energy Group by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock worth $4,162,348,000 after acquiring an additional 816,243 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of WEC Energy Group by 2.8% during the second quarter. Geode Capital Management LLC now owns 8,594,608 shares of the utilities provider’s stock valued at $892,020,000 after purchasing an additional 235,653 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in WEC Energy Group by 7.5% in the second quarter. Envestnet Asset Management Inc. now owns 2,709,291 shares of the utilities provider’s stock worth $282,308,000 after purchasing an additional 189,890 shares during the period. Legal & General Group Plc raised 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 worth $271,941,000 after purchasing an additional 162,963 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in WEC Energy Group by 1.5% during the second quarter. Federated Hermes Inc. now owns 2,030,461 shares of the utilities provider’s stock valued at $211,574,000 after buying an additional 30,987 shares during the period. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $104.68 on Monday. The firm’s 50-day moving average price is $107.90 and its 200-day moving average price is $109.16. WEC Energy Group, Inc. has a 52-week low of $92.85 and a 52-week high of $118.18. The company has a market cap of $34.05 billion, a PE ratio of 19.79, a PEG ratio of 2.47 and a beta of 0.58. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The company 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. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 13th will be paid a $0.9525 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date is Friday, February 13th. This represents a $3.81 annualized dividend and a dividend yield of 3.6%. WEC Energy Group’s dividend payout ratio (DPR) is currently 67.49%.

Wall Street Analyst Weigh In

WEC has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of WEC Energy Group in a research note on Monday, October 27th. They issued an “overweight” rating and a $124.00 price target for the company. Scotiabank boosted their price target on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. BTIG Research upgraded WEC Energy Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Citigroup started coverage on WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective for the company. Finally, TD Cowen began coverage on WEC Energy Group in a research report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $120.64.

About WEC Energy Group

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.