WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its stake in WEC Energy Group, Inc. (NYSE:WEC) by 38.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 964 shares of the utilities provider’s stock after purchasing an additional 267 shares during the quarter. First Horizon Advisors Inc.’s holdings in WEC Energy Group were worth $93,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WEC. Global X Japan Co. Ltd. increased its holdings in 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 valued at $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at approximately $29,000. Coastline Trust Co acquired a new stake in shares of WEC Energy Group during the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group during the second quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the second quarter worth $36,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

WEC opened at $100.66 on Friday. The business has a 50 day moving average price of $96.69 and a two-hundred day moving average price of $88.88. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $31.84 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.74 and a beta of 0.44. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $101.43.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.32%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WEC. Barclays lifted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their price target 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. Jefferies Financial Group began coverage on WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Finally, Wells Fargo & Company increased their target price 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $94.45.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction 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 transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The trade was a 46.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now directly owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,314 shares of company stock worth $5,047,988 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

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.