Marcum Wealth LLC Acquires 607 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Marcum Wealth LLC raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,225 shares of the utilities provider’s stock after buying an additional 607 shares during the quarter. Marcum Wealth LLC’s holdings in WEC Energy Group were worth $695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of WEC Energy Group by 36.7% during the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after acquiring an additional 688,812 shares during the period. Earnest Partners LLC raised its holdings in shares of WEC Energy Group by 11.8% during the second quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after purchasing an additional 206,637 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of WEC Energy Group by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock worth $139,889,000 after purchasing an additional 61,019 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter valued at about $127,945,000. Finally, Goldman Sachs Group Inc. increased its position in WEC Energy Group by 15.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,520,644 shares of the utilities provider’s stock valued at $127,993,000 after buying an additional 199,288 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the transaction, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WEC. KeyCorp increased their price target on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target for the company. Bank of America upped their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.73.

WEC Energy Group Trading Down 0.4 %

Shares of WEC stock opened at $93.93 on Friday. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $97.08. The company has a 50-day simple moving average of $92.99 and a two-hundred day simple moving average of $85.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company has a market capitalization of $29.69 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 2.42 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $0.92 earnings per share. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. Research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 77.14%.

About WEC Energy Group

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.