Robbins Farley Invests $64,000 in WEC Energy Group, Inc. (NYSE:WEC)

Robbins Farley bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 684 shares of the utilities provider’s stock, valued at approximately $64,000.

Other hedge funds also recently bought and sold shares of the company. Coastline Trust Co bought a new stake in shares of WEC Energy Group during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of WEC Energy Group in the third quarter worth approximately $45,000. Friedenthal Financial bought a new stake in WEC Energy Group during the third quarter valued at approximately $50,000. Future Financial Wealth Managment LLC purchased a new stake in WEC Energy Group during the third quarter valued at approximately $63,000. Finally, Concord Wealth Partners raised its position in 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 during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares of the company’s stock, 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 40,269 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares in the company, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,794 shares of company stock valued at $4,866,579 in the last 90 days. Insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WEC shares. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their target price on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a report on Monday, December 2nd. 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, the stock currently has a consensus rating of “Hold” and an average price target of $100.00.

WEC Energy Group Stock Up 1.4 %

Shares of WEC opened at $100.62 on Tuesday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $102.79. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $31.83 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49. The business’s 50 day moving average is $96.68 and its 200 day moving average is $94.64.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. Research analysts expect that WEC Energy Group, Inc. will post 4.9 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s payout ratio is currently 81.66%.

About WEC Energy Group

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.