My Legacy Advisors LLC Boosts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

My Legacy Advisors LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,568 shares of the utilities provider’s stock after buying an additional 233 shares during the quarter. My Legacy Advisors LLC’s holdings in WEC Energy Group were worth $628,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Coastline Trust Co purchased a new position in WEC Energy Group during the third quarter worth $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group in the second quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $38,000. Ashton Thomas Securities LLC purchased a new position in WEC Energy Group during the 3rd quarter valued at $45,000. Finally, Friedenthal Financial bought a new position in shares of WEC Energy Group in the third quarter worth about $50,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $99.18 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The firm has a market capitalization of $31.37 billion, a P/E ratio of 24.25, a PEG ratio of 2.36 and a beta of 0.48. The company has a 50 day moving average price of $96.65 and a 200 day moving average price of $93.05.

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 analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion for 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 period in the prior year, the company earned $1.00 earnings per share. Sell-side analysts expect that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WEC shares. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets upped their price target on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research report on Monday, December 2nd. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $98.40.

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction dated 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 owns 45,709 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 48,794 shares of company stock worth $4,866,579. Corporate insiders own 0.44% of the company’s stock.

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.