WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by MBE Wealth Management LLC

MBE Wealth Management LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,460 shares of the utilities provider’s stock after purchasing an additional 205 shares during the period. MBE Wealth Management LLC’s holdings in WEC Energy Group were worth $231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at about $29,000. William B. Walkup & Associates Inc. purchased a new stake in WEC Energy Group during the 2nd quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in WEC Energy Group during the 2nd quarter worth approximately $38,000. Ashton Thomas Securities LLC purchased a new stake in WEC Energy Group during the 3rd quarter worth approximately $45,000. Finally, Friedenthal Financial purchased a new stake in WEC Energy Group during the 3rd quarter worth approximately $50,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 2.9 %

NYSE:WEC opened at $100.84 on Tuesday. The firm has a market capitalization of $31.90 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.46 and a beta of 0.48. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The business’s fifty day moving average price is $96.73 and its 200 day moving average price is $93.98.

WEC Energy Group (NYSE:WEC) last issued its 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 return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is 81.66%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WEC. Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. BMO Capital Markets boosted their price objective on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research report on Monday, December 2nd. Wells Fargo & Company boosted their price target on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, KeyCorp boosted their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $98.40.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the sale, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,794 shares of company stock valued at $4,866,579. Insiders own 0.34% of the company’s stock.

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.