Blue Chip Partners LLC Has $342,000 Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Blue Chip Partners LLC boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,639 shares of the utilities provider’s stock after buying an additional 286 shares during the period. Blue Chip Partners LLC’s holdings in WEC Energy Group were worth $342,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in WEC Energy Group in the 3rd quarter valued at approximately $45,000. Friedenthal Financial acquired a new position in WEC Energy Group in the 3rd quarter valued at approximately $50,000. Human Investing LLC purchased a new stake in WEC Energy Group in the 4th quarter worth approximately $52,000. Finally, Robbins Farley acquired a new stake in shares of WEC Energy Group during the 4th quarter valued at $64,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares in the company, valued at approximately $4,611,581.01. The trade was a 12.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction dated 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 directly owns 273,248 shares of the company’s stock, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Trading Down 0.7 %

Shares of WEC stock opened at $103.10 on Monday. The business’s 50 day moving average is $97.05 and its two-hundred day moving average is $95.93. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $76.50 and a 12 month high of $104.01. The company has a market cap of $32.62 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. Equities analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current 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 given a dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.24%. WEC Energy Group’s dividend payout ratio is presently 69.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WEC shares. Scotiabank upped their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.88.

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.