WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 35.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,717 shares of the utilities provider’s stock after buying an additional 1,485 shares during the period. EP Wealth Advisors LLC’s holdings in WEC Energy Group were worth $449,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of WEC Energy Group by 158.3% in the 2nd quarter. Quarry LP now owns 1,361 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 834 shares during the period. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group in the 2nd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of WEC Energy Group by 9.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,425 shares of the utilities provider’s stock valued at $2,152,000 after purchasing an additional 2,333 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of WEC Energy Group by 5.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,223,185 shares of the utilities provider’s stock valued at $95,971,000 after buying an additional 58,695 shares during the last quarter. Finally, Scientech Research LLC boosted its position in shares of WEC Energy Group by 35.9% during the second quarter. Scientech Research LLC now owns 8,368 shares of the utilities provider’s stock worth $657,000 after buying an additional 2,210 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

NYSE WEC opened at $96.31 on Friday. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $97.08. The business’s fifty day moving average is $92.21 and its two-hundred day moving average is $84.83. The stock has a market capitalization of $30.42 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.45 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $0.92 earnings per share. WEC Energy Group’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock valued at $1,078,058 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WEC. BMO Capital Markets lifted their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. KeyCorp lifted their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. Barclays boosted their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Bank of America increased their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.69.

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.