AE Wealth Management LLC Raises Position in WEC Energy Group, Inc. (NYSE:WEC)

AE Wealth Management LLC grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,667 shares of the utilities provider’s stock after acquiring an additional 2,701 shares during the period. AE Wealth Management LLC’s holdings in WEC Energy Group were worth $10,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of WEC. Alley Investment Management Company LLC increased its holdings in WEC Energy Group by 324.5% during the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock worth $3,304,000 after purchasing an additional 30,009 shares during the period. Advisory Services Network LLC raised its holdings in WEC Energy Group by 34.0% in the fourth quarter. Advisory Services Network LLC now owns 37,561 shares of the utilities provider’s stock valued at $3,162,000 after acquiring an additional 9,526 shares in the last quarter. Lantz Financial LLC lifted its stake in WEC Energy Group by 324.9% in the first quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock worth $2,337,000 after acquiring an additional 21,758 shares during the last quarter. Quadrature Capital Ltd grew its holdings in WEC Energy Group by 18.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,980 shares of the utilities provider’s stock worth $3,282,000 after acquiring an additional 5,994 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of WEC Energy Group by 789.0% in the 1st quarter. Brookstone Capital Management now owns 125,219 shares of the utilities provider’s stock valued at $10,283,000 after purchasing an additional 111,134 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

WEC Energy Group Stock Up 1.0 %

WEC stock opened at $94.72 on Friday. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $96.65. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The company has a market cap of $29.91 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. The company has a fifty day moving average price of $89.76 and a 200 day moving average price of $83.92.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Sell-side analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current 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 issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WEC. Scotiabank lifted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays upped their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets raised their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $91.31.

WEC Energy Group 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.