WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 44.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 646 shares of the utilities provider’s stock after acquiring an additional 199 shares during the quarter. First Horizon Advisors Inc.’s holdings in WEC Energy Group were worth $54,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group in the fourth quarter worth about $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group during the 4th quarter worth approximately $28,000. Fortitude Family Office LLC acquired a new stake in WEC Energy Group during the 4th quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of WEC Energy Group in the 3rd quarter valued at $38,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

WEC has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Wells Fargo & Company lowered their target price on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Barclays reduced their price target on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. KeyCorp raised their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.29.

WEC Energy Group Stock Up 1.2 %

WEC stock opened at $83.83 on Wednesday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $95.95. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The firm has a 50-day simple moving average of $80.94 and a 200-day simple moving average of $81.43. The stock has a market capitalization of $26.48 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.37 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. WEC Energy Group’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 EPS. Equities analysts forecast 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. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 3.98%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Transactions at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the firm’s 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 of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

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.