Elevated Capital Advisors LLC Sells 124 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Elevated Capital Advisors LLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,080 shares of the utilities provider’s stock after selling 124 shares during the period. Elevated Capital Advisors LLC’s holdings in WEC Energy Group were worth $666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Coastline Trust Co acquired a new stake in shares of WEC Energy Group in the third quarter valued at approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group during the 2nd quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in WEC Energy Group during the third quarter worth $45,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of WEC Energy Group in the second quarter valued at $38,000. Finally, Friedenthal Financial bought a new position in shares of WEC Energy Group in the third quarter valued at about $50,000. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WEC. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a report on Monday, December 2nd. Scotiabank upped their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average target price of $98.40.

WEC Energy Group Stock Performance

NYSE:WEC opened at $93.85 on Tuesday. 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 stock has a market cap of $29.69 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.48. The stock’s 50-day moving average is $96.59 and its 200-day moving average is $92.72.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results 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 company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s quarterly 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. Equities research analysts anticipate that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.8925 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.57 annualized dividend and a dividend yield of 3.80%. WEC Energy Group’s dividend payout ratio (DPR) is 87.29%.

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $99.40, for a total transaction of $179,417.00. Following the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is 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.