Elevated Capital Advisors LLC Sells 124 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Elevated Capital Advisors LLC trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,080 shares of the utilities provider’s stock after selling 124 shares during the period. Elevated Capital Advisors LLC’s holdings in WEC Energy Group were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. LPL Financial LLC boosted its stake in WEC Energy Group by 7.1% during the 2nd quarter. LPL Financial LLC now owns 462,230 shares of the utilities provider’s stock valued at $36,267,000 after purchasing an additional 30,508 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of WEC Energy Group by 6.0% during the second quarter. Oppenheimer & Co. Inc. now owns 23,099 shares of the utilities provider’s stock valued at $1,812,000 after buying an additional 1,298 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in WEC Energy Group by 93.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 228,755 shares of the utilities provider’s stock worth $17,918,000 after buying an additional 110,276 shares in the last quarter. Federated Hermes Inc. raised its position in WEC Energy Group by 63.3% in the 2nd quarter. Federated Hermes Inc. now owns 24,734 shares of the utilities provider’s stock valued at $1,941,000 after buying an additional 9,590 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in WEC Energy Group by 5.1% during the 2nd quarter. Parallel Advisors LLC now owns 4,319 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 208 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WEC. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, KeyCorp lifted their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $98.40.

WEC Energy Group Stock Up 0.5 %

Shares of NYSE WEC opened at $93.85 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $29.69 billion, a PE ratio of 22.95, a P/E/G ratio of 2.59 and a beta of 0.48. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $102.79. The business’s fifty day moving average price is $96.59 and its 200-day moving average price is $92.72.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.80%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, February 14th. WEC Energy Group’s payout ratio is currently 87.29%.

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.