WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Increased by Spirit of America Management Corp NY

Spirit of America Management Corp NY increased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,200 shares of the utilities provider’s stock after purchasing an additional 450 shares during the quarter. Spirit of America Management Corp NY’s holdings in WEC Energy Group were worth $1,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Marshall Financial Group LLC increased its position in shares of WEC Energy Group by 4.8% in the fourth quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 100 shares in the last quarter. Tsfg LLC increased its position in shares of WEC Energy Group by 4.6% in the fourth quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 119 shares in the last quarter. Drake & Associates LLC increased its position in shares of WEC Energy Group by 2.0% in the third quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock worth $598,000 after acquiring an additional 120 shares in the last quarter. Concord Wealth Partners increased its position in shares of WEC Energy Group by 20.7% in the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after acquiring an additional 133 shares in the last quarter. Finally, TrinityPoint Wealth LLC increased its position in shares of WEC Energy Group by 1.3% in the third quarter. TrinityPoint Wealth LLC now owns 10,755 shares of the utilities provider’s stock worth $1,034,000 after acquiring an additional 134 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 1,805 shares of the company’s 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 completion of the transaction, the director now directly owns 273,248 shares in the company, valued at $27,160,851.20. This represents a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott J. Lauber sold 6,720 shares of the 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 transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 in the last ninety days. 0.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WEC has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. KeyCorp boosted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Scotiabank boosted 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 research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $100.00.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $99.30 on Wednesday. The firm has a fifty day simple moving average of $96.67 and a 200-day simple moving average of $94.77. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The stock has a market capitalization of $31.41 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.50 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 4.9 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s payout ratio is 81.66%.

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.