GPS Wealth Strategies Group LLC Buys 260 Shares of WEC Energy Group, Inc. (NYSE:WEC)

GPS Wealth Strategies Group LLC grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 21.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,448 shares of the utilities provider’s stock after acquiring an additional 260 shares during the period. GPS Wealth Strategies Group LLC’s holdings in WEC Energy Group were worth $136,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Coastline Trust Co bought a new stake in WEC Energy Group during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group during the third quarter valued at approximately $45,000. Friedenthal Financial purchased a new position in WEC Energy Group in the 3rd quarter worth approximately $50,000. Future Financial Wealth Managment LLC bought a new position in WEC Energy Group in the 3rd quarter valued at approximately $63,000. Finally, Concord Wealth Partners boosted its stake in WEC Energy Group by 20.7% during the 3rd quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction dated Thursday, November 21st. The stock was 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 in the company, valued at approximately $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock valued at $4,866,579 over the last three months. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 1.4 %

WEC stock opened at $100.62 on Tuesday. The business’s 50-day moving average price is $96.68 and its 200-day moving average price is $94.64. The stock has a market cap of $31.83 billion, a P/E ratio of 24.60, a PEG ratio of 2.50 and a beta of 0.48. 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 twelve month low of $75.13 and a twelve month high of $102.79.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.32%. WEC Energy Group’s payout ratio is currently 87.29%.

Analyst Ratings Changes

WEC has been the subject of several recent analyst reports. Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Wells Fargo & Company raised their price target on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, KeyCorp raised their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $100.00.

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.