1,059 Shares in WEC Energy Group, Inc. $WEC Acquired by RMG Wealth Management LLC

RMG Wealth Management LLC acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,059 shares of the utilities provider’s stock, valued at approximately $114,000.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after buying an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. boosted its position in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after buying an additional 726,267 shares during the last quarter. Ameriprise Financial Inc. boosted its position in WEC Energy Group by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock valued at $466,451,000 after buying an additional 33,810 shares during the last quarter. Northern Trust Corp boosted its position in WEC Energy Group by 4.9% in the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock valued at $436,298,000 after buying an additional 188,057 shares during the last quarter. Finally, Nuveen LLC bought a new position in WEC Energy Group in the 1st quarter valued at $403,372,000. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WEC. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a “neutral” rating in a research report on Friday, July 11th. Citigroup started coverage on WEC Energy Group in a research report on Friday. They issued a “buy” rating and a $131.00 price objective on the stock. The Goldman Sachs Group downgraded WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a research note on Saturday, September 27th. Five equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.70.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 9,231 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 56,443 shares of the company’s stock, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $659,060.20. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 68,448 shares of company stock worth $7,581,132 in the last three months. 0.50% of the stock is owned by insiders.

WEC Energy Group Trading Up 1.1%

NYSE:WEC opened at $114.54 on Tuesday. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $114.97. The business’s 50-day moving average price is $109.50 and its two-hundred day moving average price is $107.43. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $36.87 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 3.11 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last issued 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. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. 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 year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.39%.

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.