2,294 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Keystone Financial Group Inc.

Keystone Financial Group Inc. acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 2,294 shares of the utilities provider’s stock, valued at approximately $216,000.

Several other hedge funds have also bought and sold shares of the business. Marshall Financial Group LLC boosted its stake in WEC Energy Group by 4.8% during the fourth quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 100 shares in the last quarter. Tsfg LLC raised its holdings in WEC Energy Group by 4.6% in the fourth quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock worth $254,000 after buying an additional 119 shares during the last quarter. Drake & Associates LLC raised its holdings in WEC Energy Group by 2.0% in the third quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock worth $598,000 after buying an additional 120 shares during the last quarter. Concord Wealth Partners raised its holdings in WEC Energy Group by 20.7% in the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after buying an additional 133 shares during the last quarter. Finally, TrinityPoint Wealth LLC raised its holdings in WEC Energy Group by 1.3% in the third quarter. TrinityPoint Wealth LLC now owns 10,755 shares of the utilities provider’s stock worth $1,034,000 after buying an additional 134 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $100.78 on Friday. The firm has a 50 day moving average of $96.61 and a 200 day moving average of $94.94. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $102.79.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.9 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.31%. WEC Energy Group’s payout ratio is currently 81.66%.

Insiders Place Their Bets

In related news, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction 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 in the company, valued at approximately $4,611,581.01. This represents a 12.82 % 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. Also, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the transaction, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 over the last three months. 0.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday. Scotiabank lifted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. KeyCorp boosted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $100.56.

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.