Federated Hermes Inc. Grows Stake in WEC Energy Group, Inc. (NYSE:WEC)

Federated Hermes Inc. increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 63.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,734 shares of the utilities provider’s stock after acquiring an additional 9,590 shares during the period. Federated Hermes Inc.’s holdings in WEC Energy Group were worth $1,941,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WEC. Northwest Bank & Trust Co bought a new position in WEC Energy Group in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the 1st quarter worth $25,000. Global X Japan Co. Ltd. lifted its position in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new stake in WEC Energy Group during the second quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in WEC Energy Group in the first quarter worth about $32,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In other news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on 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 transaction, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated 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 owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock valued at $1,078,058 over the last ninety days. 0.34% of the stock is owned by insiders.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $94.72 on Friday. The firm has a market cap of $29.91 billion, a PE ratio of 20.68, a PEG ratio of 2.47 and a beta of 0.44. The stock has a 50 day moving average of $89.76 and a 200 day moving average of $83.92. The company has a current ratio of 0.74, a quick ratio of 0.54 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.

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

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.53%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Analyst Upgrades and Downgrades

WEC has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on WEC Energy Group in a research note on Thursday. They set a “hold” rating and a $102.00 price objective for the company. BMO Capital Markets upped their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company raised their price target on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average target price of $91.31.

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.