WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,334 shares of the utilities provider’s stock after acquiring an additional 3,648 shares during the quarter. WEC Energy Group comprises about 1.1% of Benjamin Edwards Inc.’s investment portfolio, making the stock its 12th biggest holding. Benjamin Edwards Inc.’s holdings in WEC Energy Group were worth $4,910,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WEC. Tennessee Valley Asset Management Partners acquired a new position in WEC Energy Group in the fourth quarter worth approximately $26,000. Valued Wealth Advisors LLC acquired a new position in WEC Energy Group in the fourth quarter worth approximately $28,000. Fortitude Family Office LLC acquired a new position in WEC Energy Group in the 4th quarter worth approximately $33,000. Authentikos Wealth Advisory LLC acquired a new position in WEC Energy Group in the 3rd quarter worth approximately $38,000. Finally, Bruce G. Allen Investments LLC acquired a new position in WEC Energy Group in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WEC shares. KeyCorp lifted their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada decreased their target price on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Barclays decreased their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Wells Fargo & Company decreased their target price on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.29.

WEC Energy Group Stock Performance

Shares of NYSE WEC traded up $0.10 during trading hours on Thursday, hitting $82.69. 653,771 shares of the stock were exchanged, compared to its average volume of 2,126,744. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40. The company’s 50 day moving average is $80.50 and its 200 day moving average is $81.43. The firm has a market capitalization of $26.08 billion, a P/E ratio of 19.64, a P/E/G ratio of 2.86 and a beta of 0.40. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.17.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the firm earned $1.61 EPS. The business’s revenue was down 7.2% on a year-over-year basis. On average, research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 79.15%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.