Choreo LLC Buys New Position in WEC Energy Group, Inc. (NYSE:WEC)

Choreo LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, HoldingsChannel reports. The firm purchased 7,930 shares of the utilities provider’s stock, valued at approximately $617,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northwest Bank & Trust Co acquired a new stake in WEC Energy Group during the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter valued at $25,000. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter worth $29,000. YHB Investment Advisors Inc. acquired a new position in shares of WEC Energy Group in the 1st quarter worth $32,000. Finally, FinTrust Capital Advisors LLC raised its position in shares of WEC Energy Group by 52.6% during the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 142 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $95.85 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.15. The business’s 50-day moving average price is $88.15 and its two-hundred day moving average price is $83.37. The company has a market capitalization of $30.30 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 earnings per share. Analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WEC. Bank of America lifted their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Barclays boosted their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. KeyCorp decreased their price objective on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $90.17.

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.