Vaughan Nelson Investment Management L.P. Has $38.52 Million Stake in WEC Energy Group, Inc. $WEC

Vaughan Nelson Investment Management L.P. decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.3% during the second quarter, HoldingsChannel.com reports. The fund owned 369,669 shares of the utilities provider’s stock after selling 20,561 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in WEC Energy Group were worth $38,520,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of WEC Energy Group by 34.9% during 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 acquiring an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after acquiring an additional 726,267 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of WEC Energy Group by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock valued at $466,451,000 after acquiring an additional 33,810 shares during the last quarter. Northern Trust Corp increased its holdings in shares of WEC Energy Group by 4.9% during the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock valued at $436,298,000 after acquiring an additional 188,057 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in WEC Energy Group in the 1st quarter valued at approximately $403,372,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $113.24 on Friday. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $114.97. The firm has a market capitalization of $36.45 billion, a PE ratio of 21.69, a PEG ratio of 3.08 and a beta of 0.47. The business’s 50 day moving average is $109.36 and its 200-day moving average is $107.38. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $0.67 EPS. WEC Energy Group’s revenue for the quarter was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were issued 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 (DPR) is presently 68.39%.

Analysts Set New Price Targets

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

Insider Activity at WEC Energy Group

In related news, EVP Daniel Krueger sold 5,930 shares of the business’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 owned 6,606 shares of the company’s stock, valued at $734,190.84. The trade was a 47.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 9,231 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total value of $1,023,533.28. Following the completion of the sale, the chief executive officer directly 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 worth $7,581,132 in the last three months. Company insiders own 0.50% of the company’s stock.

WEC Energy Group Company 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.