Belpointe Asset Management LLC Raises Stock Position in WEC Energy Group, Inc. $WEC

Belpointe Asset Management LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,829 shares of the utilities provider’s stock after buying an additional 1,944 shares during the quarter. Belpointe Asset Management LLC’s holdings in WEC Energy Group were worth $3,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Truvestments Capital LLC bought a new position in WEC Energy Group during the 1st quarter worth about $25,000. Nova Wealth Management Inc. purchased a new position in WEC Energy Group during the first quarter valued at approximately $26,000. Hughes Financial Services LLC purchased a new stake in WEC Energy Group during the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the 1st quarter valued at $32,000. Finally, ORG Partners LLC increased its holdings in shares of WEC Energy Group by 65.7% in the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 130 shares during the period. 77.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup assumed coverage on WEC Energy Group in a research note on Friday. They set a “buy” rating and a $131.00 price target on the stock. The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a report on Saturday, September 27th. Finally, UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a “neutral” rating in a research note on Friday, July 11th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.30.

WEC Energy Group Price Performance

NYSE:WEC opened at $113.24 on Monday. The stock has a market cap of $36.45 billion, a PE ratio of 21.69, a P/E/G ratio of 3.11 and a beta of 0.47. 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 stock has a 50 day moving average price of $109.36 and a 200 day moving average price of $107.37. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $114.97.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (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 business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. The business’s quarterly revenue 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. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Insider Activity

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the transaction, the executive vice president owned 5,829 shares of the company’s stock, valued at $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares in the company, 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 worth $7,581,132 over the last three months. Company insiders own 0.50% of the company’s stock.

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.