Axxcess Wealth Management LLC Has $435,000 Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Axxcess Wealth Management LLC grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 72.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,164 shares of the utilities provider’s stock after acquiring an additional 2,162 shares during the quarter. Axxcess Wealth Management LLC’s holdings in WEC Energy Group were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of WEC. Tennessee Valley Asset Management Partners purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $26,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at $28,000. Fortitude Family Office LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth $33,000. Authentikos Wealth Advisory LLC purchased a new stake in WEC Energy Group in the 3rd quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC bought a new stake in WEC Energy Group in the 4th quarter valued at about $40,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction that occurred 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 owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Price Performance

WEC stock opened at $84.91 on Thursday. The firm has a market cap of $26.82 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.37 and a beta of 0.40. The firm’s fifty day moving average is $80.94 and its 200 day moving average is $81.43. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $95.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.42 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be given a $0.835 dividend. The ex-dividend date is Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 3.93%. WEC Energy Group’s payout ratio is currently 72.93%.

Analysts Set New Price Targets

WEC has been the topic of a number of recent research reports. Barclays dropped their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. The Goldman Sachs Group began coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company. BMO Capital Markets increased their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Scotiabank reduced their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.29.

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.