Mid Atlantic Financial Management Inc. ADV Raises Stake in WEC Energy Group, Inc. (NYSE:WEC)

Mid Atlantic Financial Management Inc. ADV lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,718 shares of the utilities provider’s stock after buying an additional 318 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in WEC Energy Group were worth $509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Certified Advisory Corp acquired a new stake in shares of WEC Energy Group in the first quarter worth approximately $25,000. CSat Investment Advisory L.P. boosted its position in shares of WEC Energy Group by 52.3% in the first quarter. CSat Investment Advisory L.P. now owns 332 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 114 shares during the last quarter. Meridian Wealth Partners LLC boosted its position in shares of WEC Energy Group by 59.0% in the first quarter. Meridian Wealth Partners LLC now owns 488 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 181 shares during the last quarter. Selective Wealth Management Inc. boosted its position in shares of WEC Energy Group by 1,612.9% in the second quarter. Selective Wealth Management Inc. now owns 531 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 500 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of WEC Energy Group by 49.6% in the second quarter. Sound Income Strategies LLC now owns 540 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 179 shares during the last quarter. Institutional investors and hedge funds own 72.87% of the company’s stock.

In other news, VP Joshua M. Erickson sold 1,555 shares of the business’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $96.48, for a total transaction of $150,026.40. Following the transaction, the vice president now directly owns 3,618 shares of the company’s stock, valued at $349,064.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Shares of WEC stock opened at $91.58 on Friday. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.74 and a beta of 0.18. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.15. WEC Energy Group, Inc. has a fifty-two week low of $80.55 and a fifty-two week high of $106.85. The firm’s 50 day moving average price is $94.90 and its two-hundred day moving average price is $93.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, August 3rd. The utilities provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. WEC Energy Group had a net margin of 16.26% and a return on equity of 12.00%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a dividend of $0.6775 per share. The ex-dividend date was Thursday, August 12th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 2.96%. WEC Energy Group’s payout ratio is currently 71.50%.

Several equities research analysts recently issued reports on WEC shares. Mizuho raised their target price on shares of WEC Energy Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 26th. Argus lifted their price target on shares of WEC Energy Group from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, September 1st. Finally, Barclays lifted their price target on shares of WEC Energy Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Buy” and a consensus target price of $96.67.

WEC Energy Group Profile

WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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