Edgestream Partners L.P. Purchases 26,870 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Edgestream Partners L.P. grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 69.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,465 shares of the utilities provider’s stock after purchasing an additional 26,870 shares during the period. Edgestream Partners L.P.’s holdings in WEC Energy Group were worth $5,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the first quarter worth about $25,000. Northwest Bank & Trust Co bought a new stake in WEC Energy Group during the fourth quarter worth about $25,000. Global X Japan Co. Ltd. increased its holdings in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group in the second quarter worth about $29,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of WEC Energy Group in the first quarter worth about $32,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.4 %

WEC stock opened at $95.74 on Wednesday. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $96.65. The business’s 50 day moving average price is $88.87 and its two-hundred day moving average price is $83.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts forecast that WEC Energy Group, Inc. will post 4.88 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 dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.49%. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

Insider Transactions at WEC Energy Group

In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares in the company, valued at $129,796.36. 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 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WEC has been the topic of several analyst reports. Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank lifted their price objective 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. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Barclays lifted their price objective on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.42.

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.