Ashton Thomas Private Wealth LLC Raises Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Ashton Thomas Private Wealth LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 41.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,162 shares of the utilities provider’s stock after purchasing an additional 10,884 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in WEC Energy Group were worth $2,916,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. First Foundation Advisors boosted its stake in shares of WEC Energy Group by 6.2% in the second quarter. First Foundation Advisors now owns 3,580 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 210 shares during the last quarter. Quest Partners LLC lifted its holdings in WEC Energy Group by 568,300.0% in the 2nd quarter. Quest Partners LLC now owns 28,420 shares of the utilities provider’s stock valued at $2,230,000 after purchasing an additional 28,415 shares in the last quarter. Oak Thistle LLC acquired a new stake in WEC Energy Group during the 2nd quarter worth $534,000. Morton Community Bank grew its holdings in shares of WEC Energy Group by 6.3% during the second quarter. Morton Community Bank now owns 39,720 shares of the utilities provider’s stock worth $3,116,000 after buying an additional 2,370 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of WEC Energy Group by 9,971.2% in the second quarter. Acadian Asset Management LLC now owns 138,982 shares of the utilities provider’s stock valued at $10,902,000 after buying an additional 137,602 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WEC shares. Bank of America upped their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Barclays boosted their target price on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company increased 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. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Scotiabank upped their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Four research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.77.

WEC Energy Group Stock Performance

NYSE WEC opened at $94.86 on Tuesday. The stock has a fifty day simple moving average of $86.75 and a 200-day simple moving average of $82.91. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The stock has a market cap of $29.98 billion, a PE ratio of 20.71, a P/E/G ratio of 2.41 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $95.41.

WEC Energy Group (NYSE:WEC) last announced its 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted $0.92 earnings per share. WEC Energy Group’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.52%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock valued at $1,078,058 over the last quarter. 0.34% of the stock is owned by company insiders.

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.