Premier Path Wealth Partners LLC Purchases 386 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Premier Path Wealth Partners LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,237 shares of the utilities provider’s stock after purchasing an additional 386 shares during the period. Premier Path Wealth Partners LLC’s holdings in WEC Energy Group were worth $304,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Coastline Trust Co bought a new position in shares of WEC Energy Group during the 3rd quarter worth approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group during the 2nd quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in WEC Energy Group during the third quarter worth $45,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of WEC Energy Group in the second quarter valued at $38,000. Finally, Friedenthal Financial bought a new position in shares of WEC Energy Group in the third quarter valued at about $50,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.8 %

Shares of WEC Energy Group stock opened at $99.18 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $102.79. The company has a market capitalization of $31.37 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.36 and a beta of 0.48. The firm’s 50-day moving average price is $96.65 and its two-hundred day moving average price is $93.05.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business 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. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts forecast that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the transaction, the director now owns 273,248 shares in the company, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the sale, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,794 shares of company stock worth $4,866,579 over the last 90 days. Insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WEC shares. Scotiabank upped their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. KeyCorp upped their target price 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 WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $98.40.

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.