Gateway Wealth Partners LLC Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Gateway Wealth Partners LLC acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,297 shares of the utilities provider’s stock, valued at approximately $221,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its holdings in WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in WEC Energy Group in the second quarter valued at $29,000. William B. Walkup & Associates Inc. bought a new stake in WEC Energy Group in the second quarter valued at $31,000. FinTrust Capital Advisors LLC lifted its stake in WEC Energy Group by 52.6% in the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after buying an additional 142 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in WEC Energy Group in the second quarter valued at $36,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WEC. Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Jefferies Financial Group began coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $94.45.

Insiders Place Their Bets

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The stock was 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 directly owns 21,876 shares in the company, valued at $1,934,932.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $95.33 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm’s 50-day simple moving average is $95.36 and its 200 day simple moving average is $86.94. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The stock has a market cap of $30.13 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.50 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, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business earned $0.92 earnings per share. WEC Energy Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.50%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

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.