Midland Wealth Advisors LLC Purchases New Shares in WEC Energy Group, Inc. (NYSE:WEC)

Midland Wealth Advisors LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,217 shares of the utilities provider’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $983,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in WEC Energy Group by 6.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,255 shares of the utilities provider’s stock valued at $27,391,000 after buying an additional 19,867 shares during the period. Alley Investment Management Company LLC raised its position 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 buying an additional 30,009 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of WEC Energy Group by 34.0% in the 4th quarter. Advisory Services Network LLC now owns 37,561 shares of the utilities provider’s stock worth $3,162,000 after acquiring an additional 9,526 shares during the period. Finally, Lantz Financial LLC boosted its holdings in shares of WEC Energy Group by 324.9% in the first quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock valued at $2,337,000 after acquiring an additional 21,758 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 0.6 %

Shares of WEC opened at $93.63 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $94.21. The stock has a market cap of $29.59 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.39 and a beta of 0.44. The firm has a 50 day simple moving average of $85.45 and a 200-day simple moving average of $82.46.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Equities analysts forecast that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.57%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Scotiabank raised their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America raised their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. KeyCorp decreased their price target 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. Barclays increased their price objective on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average target price of $89.77.

Insider Activity

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $129,796.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. 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 90 days. 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.