Brighton Jones LLC Acquires 843 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Brighton Jones LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 34.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,256 shares of the utilities provider’s stock after buying an additional 843 shares during the quarter. Brighton Jones LLC’s holdings in WEC Energy Group were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WEC. Certified Advisory Corp bought a new stake in shares of WEC Energy Group during the 1st quarter worth $25,000. CSat Investment Advisory L.P. increased its holdings in WEC Energy Group by 52.3% in the 1st quarter. CSat Investment Advisory L.P. now owns 332 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 114 shares in the last quarter. Meridian Wealth Partners LLC increased its holdings in WEC Energy Group by 59.0% in the 1st quarter. Meridian Wealth Partners LLC now owns 488 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 181 shares in the last quarter. Selective Wealth Management Inc. increased its holdings in WEC Energy Group by 1,612.9% in the 2nd quarter. Selective Wealth Management Inc. now owns 531 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 500 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in WEC Energy Group by 49.6% in the 2nd quarter. Sound Income Strategies LLC now owns 540 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 72.87% of the company’s stock.

Shares of WEC Energy Group stock opened at $90.75 on Friday. WEC Energy Group, Inc. has a one year low of $80.55 and a one year high of $106.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.68 and a quick ratio of 0.54. The stock’s 50-day moving average is $94.88 and its 200 day moving average is $93.42. The firm has a market cap of $28.63 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 3.74 and a beta of 0.18.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, August 3rd. The utilities provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. WEC Energy Group had a return on equity of 12.00% and a net margin of 16.26%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 4.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were issued a $0.6775 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.71 annualized dividend and a yield of 2.99%. WEC Energy Group’s payout ratio is currently 71.50%.

WEC has been the subject of a number of recent research reports. Mizuho upped their target price on WEC Energy Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, August 26th. Argus increased their price target on WEC Energy Group from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, September 1st. Finally, Barclays increased their price target on WEC Energy Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, May 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $96.67.

In other WEC Energy Group news, VP Joshua M. Erickson sold 1,555 shares of the stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $96.48, for a total value of $150,026.40. Following the transaction, the vice president now owns 3,618 shares in the company, valued at $349,064.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

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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