Clearstead Trust LLC Acquires 220 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Clearstead Trust LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,889 shares of the utilities provider’s stock after acquiring an additional 220 shares during the quarter. Clearstead Trust LLC’s holdings in WEC Energy Group were worth $1,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WEC. Northern Trust Corp boosted its stake in WEC Energy Group by 2.9% in the 4th quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock valued at $342,669,000 after purchasing an additional 116,219 shares during the period. American Century Companies Inc. boosted its stake in WEC Energy Group by 36.7% in the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares during the period. Envestnet Asset Management Inc. boosted its stake in WEC Energy Group by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock valued at $139,889,000 after purchasing an additional 61,019 shares during the period. Earnest Partners LLC boosted its stake in WEC Energy Group by 36.0% in the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $143,557,000 after purchasing an additional 462,646 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in WEC Energy Group in the 1st quarter valued at $127,945,000. 77.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on WEC. Barclays boosted their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. KeyCorp lifted their price objective on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, BMO Capital Markets lifted their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.42.

Insider Buying and Selling

In other news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 in the last ninety days. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 0.3 %

NYSE:WEC opened at $96.13 on Tuesday. The firm’s 50 day simple moving average is $88.52 and its 200 day simple moving average is $83.54. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.65. The company has a market cap of $30.38 billion, a PE ratio of 20.99, a P/E/G ratio of 2.44 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company earned $0.92 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.47%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

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.