Ameriflex Group Inc. Invests $84,000 in WEC Energy Group, Inc. (NYSE:WEC)

Ameriflex Group Inc. acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 842 shares of the utilities provider’s stock, valued at approximately $84,000.

A number of other hedge funds have also recently made changes to their positions in the business. MJP Associates Inc. ADV boosted its stake in shares of WEC Energy Group by 3.4% in the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 98 shares during the period. Horizon Investments LLC lifted its position in shares of WEC Energy Group by 1.9% in the fourth quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock worth $553,000 after buying an additional 109 shares in the last quarter. Wealth Alliance lifted its position in shares of WEC Energy Group by 0.8% in the fourth quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock worth $1,325,000 after buying an additional 110 shares in the last quarter. Advisor OS LLC lifted its position in shares of WEC Energy Group by 3.5% in the fourth quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider’s stock worth $303,000 after buying an additional 110 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of WEC Energy Group by 14.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider’s stock worth $86,000 after buying an additional 118 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now owns 2,686 shares of the company’s stock, valued at $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays boosted their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. BMO Capital Markets boosted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their target price on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus target price of $107.13.

WEC Energy Group Trading Up 0.8%

Shares of WEC stock opened at $107.60 on Wednesday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $106.94 and its two-hundred day simple moving average is $102.24. The company has a market cap of $34.34 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. Research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. This represents a $3.59 annualized dividend and a dividend yield of 3.34%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group’s dividend payout ratio is presently 69.59%.

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.