Blossom Wealth Management Acquires 1,215 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Blossom Wealth Management raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 23.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,463 shares of the utilities provider’s stock after purchasing an additional 1,215 shares during the period. WEC Energy Group accounts for about 1.3% of Blossom Wealth Management’s holdings, making the stock its 23rd largest holding. Blossom Wealth Management’s holdings in WEC Energy Group were worth $622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Global X Japan Co. Ltd. lifted 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 buying an additional 118 shares during the period. Olistico Wealth LLC purchased a new stake in WEC Energy Group in the second quarter worth $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group in the second quarter worth $31,000. FinTrust Capital Advisors LLC lifted its position in WEC Energy Group by 52.6% during 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 period. Finally, Triad Wealth Partners LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WEC shares. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target for the company. BMO Capital Markets upped their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Barclays lifted their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company raised their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $94.45.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the transaction, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by insiders.

WEC Energy Group Stock Performance

Shares of WEC opened at $98.69 on Wednesday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. 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 stock has a market cap of $31.17 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.57 and a beta of 0.44. The business has a 50-day simple moving average of $94.58 and a two-hundred day simple moving average of $86.33.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share 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 company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. WEC Energy Group’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

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.