Catalyst Capital Advisors LLC Increases Stock Holdings in WEC Energy Group, Inc. $WEC

Catalyst Capital Advisors LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC) by 72.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 907 shares of the utilities provider’s stock after buying an additional 380 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in WEC Energy Group were worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of WEC Energy Group in the first quarter worth about $25,000. Nova Wealth Management Inc. bought a new stake in WEC Energy Group during the first quarter valued at approximately $26,000. Bayforest Capital Ltd bought a new stake in WEC Energy Group during the second quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group during the first quarter valued at approximately $28,000. Finally, WPG Advisers LLC bought a new stake in WEC Energy Group during the first quarter valued at approximately $35,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ulice Payne, Jr. sold 1,620 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director owned 20,360 shares of the company’s stock, valued at $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president directly owned 5,829 shares of the company’s stock, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,448 shares of company stock valued at $7,581,132. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

WEC has been the subject of several research analyst reports. Barclays lifted their target price on shares of WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of WEC Energy Group in a report on Friday. Finally, UBS Group boosted their target price on shares of WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $118.83.

WEC Energy Group Trading Down 0.1%

WEC Energy Group stock opened at $115.83 on Friday. The firm has a 50 day moving average of $111.32 and a 200 day moving average of $108.39. The firm has a market capitalization of $37.28 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 3.27 and a beta of 0.47. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $118.18. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

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

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio is presently 68.39%.

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.