SYM FINANCIAL Corp Purchases Shares of 4,903 WEC Energy Group, Inc. (NYSE:WEC)

SYM FINANCIAL Corp purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,903 shares of the utilities provider’s stock, valued at approximately $385,000.

Other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the first quarter worth about $25,000. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group in the fourth quarter worth $25,000. Global X Japan Co. Ltd. lifted its position in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group during the second quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. bought a new position in WEC Energy Group in the first quarter worth about $32,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE:WEC opened at $95.01 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.45 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $96.15. The stock’s 50 day simple moving average is $87.79 and its two-hundred day simple moving average is $83.20.

WEC Energy Group (NYSE:WEC) last issued 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 company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were paid a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.52%. WEC Energy Group’s payout ratio is 72.93%.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $340,712.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WEC. Barclays upped their target price on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Scotiabank increased their price objective on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Bank of America boosted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.17.

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.