WEC Energy Group, Inc. (NYSE:WEC) Stock Position Increased by Parallel Advisors LLC

Parallel Advisors LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,319 shares of the utilities provider’s stock after buying an additional 208 shares during the quarter. Parallel Advisors LLC’s holdings in WEC Energy Group were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Northwest Bank & Trust Co bought a new position in shares of WEC Energy Group during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the first quarter worth approximately $25,000. Global X Japan Co. Ltd. grew its position in 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 worth $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new position in WEC Energy Group in the second quarter worth approximately $29,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of WEC Energy Group in the first quarter valued at $32,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Down 0.5 %

Shares of NYSE:WEC opened at $95.25 on Thursday. The firm has a fifty day moving average of $89.21 and a two-hundred day moving average of $83.75. 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 12-month low of $75.13 and a 12-month high of $96.65. The firm has a market capitalization of $30.08 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is 72.93%.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 in the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WEC. BMO Capital Markets lifted their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Scotiabank raised their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Barclays boosted their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Finally, Bank of America upped their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $90.42.

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.