Mcdonald Partners LLC Grows Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Mcdonald Partners LLC raised its position in WEC Energy Group, Inc. (NYSE:WEC) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,657 shares of the utilities provider’s stock after purchasing an additional 475 shares during the period. Mcdonald Partners LLC’s holdings in WEC Energy Group were worth $814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WEC. Coastline Trust Co purchased a new position in WEC Energy Group in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of WEC Energy Group during the 3rd quarter worth about $45,000. Human Investing LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $52,000. Kestra Investment Management LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $61,000. Finally, Robbins Farley purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $64,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.7 %

Shares of NYSE:WEC opened at $103.10 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $104.01. The company has a 50 day moving average of $97.17 and a two-hundred day moving average of $96.03. The company has a market capitalization of $32.62 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the business earned $1.10 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s payout ratio is currently 69.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WEC shares. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. KeyCorp raised their price target 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. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.88.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the transaction, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The stock was 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 directly owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.