NorthRock Partners LLC Acquires 302 Shares of WEC Energy Group, Inc. $WEC

NorthRock Partners LLC boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,332 shares of the utilities provider’s stock after acquiring an additional 302 shares during the quarter. NorthRock Partners LLC’s holdings in WEC Energy Group were worth $1,284,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WEC. GAMMA Investing LLC grew its holdings in WEC Energy Group by 18.2% during the 1st quarter. GAMMA Investing LLC now owns 16,829 shares of the utilities provider’s stock worth $1,834,000 after acquiring an additional 2,587 shares during the last quarter. CX Institutional bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $193,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of WEC Energy Group by 16.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider’s stock valued at $26,702,000 after purchasing an additional 34,986 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $32,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $522,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Down 0.1%

WEC Energy Group stock opened at $115.02 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $115.90. The firm’s fifty day moving average is $110.02 and its 200 day moving average is $107.74. The company has a market capitalization of $37.02 billion, a PE ratio of 22.03, a PEG ratio of 3.16 and a beta of 0.47.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.28 billion for the quarter. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.8925 per share. The ex-dividend date was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.1%. WEC Energy Group’s dividend payout ratio is presently 68.39%.

Insider Activity

In other WEC Energy Group news, VP Anthony Reese sold 4,177 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.30, for a total transaction of $460,723.10. Following the transaction, the vice president owned 1,757 shares in the company, valued at approximately $193,797.10. This represents a 70.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 9,231 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. The trade was a 14.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WEC. UBS Group upped their price objective on shares of WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday. Scotiabank upped their price objective on shares of WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.20.

WEC Energy Group Company 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.