Tsfg LLC Increases Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Tsfg LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,699 shares of the utilities provider’s stock after purchasing an additional 119 shares during the quarter. Tsfg LLC’s holdings in WEC Energy Group were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WEC. LPL Financial LLC raised its stake in WEC Energy Group by 7.1% in the second quarter. LPL Financial LLC now owns 462,230 shares of the utilities provider’s stock worth $36,267,000 after buying an additional 30,508 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of WEC Energy Group by 6.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 23,099 shares of the utilities provider’s stock worth $1,812,000 after acquiring an additional 1,298 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of WEC Energy Group by 93.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 228,755 shares of the utilities provider’s stock valued at $17,918,000 after purchasing an additional 110,276 shares during the period. Federated Hermes Inc. boosted its position in shares of WEC Energy Group by 63.3% during the second quarter. Federated Hermes Inc. now owns 24,734 shares of the utilities provider’s stock valued at $1,941,000 after purchasing an additional 9,590 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in WEC Energy Group by 5.1% in the second quarter. Parallel Advisors LLC now owns 4,319 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 208 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Performance

Shares of WEC opened at $93.85 on Tuesday. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 2.59 and a beta of 0.48. The business’s fifty day simple moving average is $96.59 and its two-hundred day simple moving average is $92.72. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $102.79. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the firm posted $1.00 earnings per share. WEC Energy Group’s revenue was down 4.8% compared to the same quarter last year. Research analysts anticipate that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.8925 per share. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.80%. WEC Energy Group’s dividend payout ratio is 87.29%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets raised their price objective on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.40.

Insider Buying and Selling

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 1,805 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is owned by insiders.

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.