TruNorth Capital Management LLC Has $72,000 Holdings in WEC Energy Group, Inc. $WEC

TruNorth Capital Management LLC cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 26.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 690 shares of the utilities provider’s stock after selling 242 shares during the quarter. TruNorth Capital Management LLC’s holdings in WEC Energy Group were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. USA Financial Formulas bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $268,000. Trilogy Capital Inc. bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $2,602,000. Trust Co. of Vermont increased its stake in shares of WEC Energy Group by 26.8% in the 2nd quarter. Trust Co. of Vermont now owns 1,188 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 251 shares during the last quarter. Loudon Investment Management LLC increased its stake in shares of WEC Energy Group by 7.2% in the 2nd quarter. Loudon Investment Management LLC now owns 7,710 shares of the utilities provider’s stock valued at $803,000 after acquiring an additional 515 shares during the last quarter. Finally, Liberty Capital Management Inc. increased its stake in shares of WEC Energy Group by 3.8% in the 2nd quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 97 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 5,829 shares of the company’s stock, valued at $643,113.57. This trade represents a 40.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group 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 of the company’s stock, valued at $734,190.84. This represents a 47.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

Shares of WEC opened at $113.01 on Thursday. The stock has a market capitalization of $36.38 billion, a P/E ratio of 21.65, a P/E/G ratio of 3.15 and a beta of 0.46. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $114.97. The company has a 50 day moving average of $109.24 and a 200-day moving average of $107.31. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results 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. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WEC shares. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a “neutral” rating in a research note on Friday, July 11th. The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $106.89.

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.