AlphaCore Capital LLC Acquires 161 Shares of WEC Energy Group, Inc. (NYSE:WEC)

AlphaCore Capital LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 4,534 shares of the utilities provider’s stock after purchasing an additional 161 shares during the quarter. AlphaCore Capital LLC’s holdings in WEC Energy Group were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after buying an additional 1,912,223 shares during the period. Trustmark National Bank Trust Department bought a new stake in WEC Energy Group in the third quarter valued at approximately $202,000. Moors & Cabot Inc. increased its position in WEC Energy Group by 13.3% during the 3rd quarter. Moors & Cabot Inc. now owns 5,331 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 627 shares during the period. First Horizon Advisors Inc. raised its holdings in WEC Energy Group by 38.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 964 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 267 shares during the last quarter. Finally, Howe & Rusling Inc. acquired a new position in shares of WEC Energy Group in the 3rd quarter worth approximately $201,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 1.7 %

NYSE WEC opened at $100.97 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 52 week low of $75.13 and a 52 week high of $101.00. The business has a 50 day moving average price of $96.60 and a 200-day moving average price of $88.72. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.69 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 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 during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business posted $1.00 EPS. WEC Energy Group’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.31%. WEC Energy Group’s payout ratio is 81.66%.

Insider Buying and Selling at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the sale, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,045 shares of company stock worth $1,038,807. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, KeyCorp increased their price target on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.45.

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.