Gen Wealth Partners Inc Trims Stake in WEC Energy Group, Inc. (NYSE:WEC)

Gen Wealth Partners Inc lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 34.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 283 shares of the utilities provider’s stock after selling 146 shares during the period. Gen Wealth Partners Inc’s holdings in WEC Energy Group were worth $27,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of WEC. Wellington Management Group LLP boosted its position in WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in WEC Energy Group during the fourth quarter valued at $188,879,000. JPMorgan Chase & Co. lifted its position in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares in the last quarter. Donaldson Capital Management LLC purchased a new stake in WEC Energy Group during the 4th quarter worth approximately $36,421,000. Finally, Federated Hermes Inc. grew its stake in WEC Energy Group by 24.4% during the 4th quarter. Federated Hermes Inc. now owns 1,972,553 shares of the utilities provider’s stock valued at $185,499,000 after acquiring an additional 387,178 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $107.65 on Friday. The company’s 50-day simple moving average is $107.08 and its 200-day simple moving average is $101.44. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The stock has a market capitalization of $34.35 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.60 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.18 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.97 earnings per share. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $0.8975 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.33%. The ex-dividend date is Wednesday, May 14th. WEC Energy Group’s dividend payout ratio is presently 69.59%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WEC shares. Barclays increased their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 29th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $107.13.

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.