Alliance Wealth Advisors LLC Acquires New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Alliance Wealth Advisors LLC acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,154 shares of the utilities provider’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of WEC Energy Group during the fourth quarter valued at $28,000. Hoey Investments Inc. bought a new position in shares of WEC Energy Group during the fourth quarter valued at $42,000. Human Investing LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 345 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.8%

WEC opened at $105.64 on Friday. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average of $106.84 and a 200-day moving average of $102.66. The stock has a market cap of $33.71 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46.

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

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a yield of 3.40%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and raised their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Barclays increased their price objective on shares of 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.13.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the sale, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% 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. Corporate insiders own 0.50% of the company’s stock.

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.