Fiduciary Financial Group LLC Buys New Position in WEC Energy Group, Inc. (NYSE:WEC)

Fiduciary Financial Group LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,606 shares of the utilities provider’s stock, valued at approximately $211,000.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the first quarter valued at approximately $25,000. Northwest Bank & Trust Co purchased a new position in WEC Energy Group in the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group in the fourth quarter worth $26,000. First United Bank & Trust purchased a new position in WEC Energy Group in the fourth quarter worth $30,000. Finally, Olistico Wealth LLC purchased a new position in WEC Energy Group in the second quarter worth $29,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WEC. Wells Fargo & Company boosted their price objective on WEC Energy Group from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. KeyCorp decreased their price objective on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays boosted their price objective 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. Scotiabank decreased their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Finally, StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.31.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the transaction, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 750 shares of the firm’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 directly owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,462 shares of company stock valued at $218,668. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Up 0.3 %

WEC stock traded up $0.23 during trading on Friday, hitting $89.52. 2,288,483 shares of the company traded hands, compared to its average volume of 2,199,591. The firm has a market capitalization of $28.30 billion, a PE ratio of 19.58, a P/E/G ratio of 2.31 and a beta of 0.41. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $92.23. The company has a 50-day moving average of $81.98 and a 200-day moving average of $81.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $0.92 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

WEC Energy Group Company 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.