Csenge Advisory Group Boosts Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Csenge Advisory Group raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.1% during the second quarter, HoldingsChannel reports. The firm owned 7,406 shares of the utilities provider’s stock after purchasing an additional 424 shares during the period. Csenge Advisory Group’s holdings in WEC Energy Group were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 1st quarter worth approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group in the 4th quarter worth approximately $26,000. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group in the 2nd quarter worth approximately $29,000. Finally, First United Bank & Trust purchased a new position in shares of WEC Energy Group in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WEC. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $87.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Barclays lifted their target price on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Tuesday. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, KeyCorp lowered their target price on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $87.31.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $1.14 during trading on Thursday, hitting $87.81. 2,044,844 shares of the stock traded hands, compared to its average volume of 2,181,542. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a market cap of $27.73 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 2.28 and a beta of 0.41. The company has a fifty day moving average price of $81.02 and a two-hundred day moving average price of $80.82. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $92.23.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current 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 issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

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.