Keystone Financial Group Has $270,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Keystone Financial Group grew its position in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,211 shares of the utilities provider’s stock after acquiring an additional 138 shares during the quarter. Keystone Financial Group’s holdings in WEC Energy Group were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in shares of WEC Energy Group during the 4th quarter worth $26,000. Valued Wealth Advisors LLC bought a new stake in WEC Energy Group in the 4th quarter valued at about $28,000. First United Bank & Trust bought a new stake in WEC Energy Group in the 4th quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in WEC Energy Group in the 4th quarter valued at about $33,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in WEC Energy Group in the 3rd quarter valued at about $38,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 1.1 %

WEC stock traded down $0.90 during midday trading on Wednesday, hitting $83.68. The company had a trading volume of 881,866 shares, compared to its average volume of 2,055,429. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. The stock has a market cap of $26.43 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.42 and a beta of 0.40. The stock’s 50 day moving average price is $81.93 and its 200 day moving average price is $81.63. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $93.37.

WEC Energy Group (NYSE:WECGet Free Report) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.99%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WEC. BMO Capital Markets upped their price target on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $90.00 to $84.00 in a report on Friday, February 2nd. KeyCorp boosted their price objective on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada cut their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.29.

Read Our Latest Research Report on WEC Energy Group

About WEC Energy Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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