Schmidt P J Investment Management Inc. Sells 1,002 Shares of WEC Energy Group, Inc. (NYSE:WEC)

25 Oct 2024, 12:04 by Doug Wharley · The Cerbat Gem

Schmidt P J Investment Management Inc. decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,230 shares of the utilities provider’s stock after selling 1,002 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in WEC Energy Group were worth $1,272,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Global X Japan Co. Ltd. increased its stake in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $31,000. FinTrust Capital Advisors LLC increased its holdings in WEC Energy Group by 52.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 142 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in WEC Energy Group in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $98.81 on Friday. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.54 and a beta of 0.44. The company’s 50 day moving average is $94.78 and its 200 day moving average is $86.43. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31.

WEC Energy Group (NYSE:WEC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.38%. WEC Energy Group’s dividend payout ratio is currently 77.14%.

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP William J. Guc sold 6,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock valued at $1,078,058 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

WEC has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. BMO Capital Markets upped their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank increased their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, KeyCorp boosted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.45.

Check Out Our Latest Stock Report on WEC Energy Group

About WEC Energy Group

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