WEC Energy Group, Inc. (NYSE:WEC) Stake Boosted by AdvisorNet Financial Inc

AdvisorNet Financial Inc raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 122.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,303 shares of the utilities provider’s stock after purchasing an additional 1,268 shares during the period. AdvisorNet Financial Inc’s holdings in WEC Energy Group were worth $181,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northern Trust Corp raised its position in shares of WEC Energy Group by 2.9% during the fourth quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock valued at $342,669,000 after buying an additional 116,219 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock valued at $149,635,000 after acquiring an additional 51,540 shares during the period. Earnest Partners LLC raised its position in WEC Energy Group by 36.0% in the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after purchasing an additional 462,646 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in WEC Energy Group by 93.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after purchasing an additional 803,718 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new position in shares of WEC Energy Group in the 1st quarter worth approximately $127,945,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Trading Down 0.5 %

WEC traded down $0.45 during trading on Thursday, reaching $89.19. 1,469,191 shares of the company’s stock were exchanged, compared to its average volume of 2,192,933. 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 one year low of $75.13 and a one year high of $92.23. The firm has a fifty day moving average price of $81.81 and a two-hundred day moving average price of $81.14. The stock has a market capitalization of $28.17 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.27 and a beta of 0.41.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.74%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Activity

In other news, VP Joshua M. Erickson sold 350 shares of the business’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 transaction of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. Insiders sold a total of 2,462 shares of company stock worth $218,668 in the last three months. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WEC. Wells Fargo & Company lifted their price target on WEC Energy Group from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BMO Capital Markets upped their target price on shares of WEC Energy Group from $87.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. KeyCorp cut their target price on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Scotiabank cut their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Four research 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, the company currently has a consensus rating of “Hold” and an average price target of $87.31.

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.