AlphaStar Capital Management LLC Decreases Holdings in WEC Energy Group, Inc. $WEC

AlphaStar Capital Management LLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 28.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,460 shares of the utilities provider’s stock after selling 1,791 shares during the quarter. AlphaStar Capital Management LLC’s holdings in WEC Energy Group were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WEC. Truvestments Capital LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at $25,000. Nova Wealth Management Inc. purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at $26,000. Bayforest Capital Ltd purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $26,000. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at $28,000. Finally, ORG Partners LLC grew its stake in shares of WEC Energy Group by 65.7% during the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 130 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WEC shares. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada set a $131.00 price target on WEC Energy Group in a research note on Monday, October 27th. Wells Fargo & Company started coverage on WEC Energy Group in a research note on Monday, October 27th. They set an “overweight” rating and a $124.00 price target for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. Finally, Scotiabank increased their price target on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.21.

Insiders Place Their Bets

In other news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares in the company, valued at approximately $734,190.84. This trade represents a 47.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director owned 20,360 shares of the company’s stock, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 22,741 shares of company stock worth $2,523,854. Insiders own 0.50% of the company’s stock.

WEC Energy Group Stock Down 0.8%

Shares of NYSE WEC opened at $111.74 on Friday. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.18. The business has a 50-day simple moving average of $111.92 and a two-hundred day simple moving average of $108.68. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The company has a market cap of $35.97 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.15 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The business had revenue of $2.28 billion during the quarter. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is 67.49%.

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.