FSA Wealth Management LLC Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

FSA Wealth Management LLC acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 900 shares of the utilities provider’s stock, valued at approximately $87,000.

Several other large investors also recently made changes to their positions in WEC. Massmutual Trust Co. FSB ADV lifted its stake in WEC Energy Group by 5.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock worth $216,000 after purchasing an additional 111 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its position in WEC Energy Group by 2.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock valued at $474,000 after acquiring an additional 117 shares during the last quarter. Global X Japan Co. Ltd. raised its stake in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares in the last quarter. Drake & Associates LLC lifted its holdings in shares of 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 acquiring an additional 120 shares during the last quarter. Finally, Park National Corp OH boosted its stake in shares of WEC Energy Group by 3.4% in the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In related news, CEO Scott J. Lauber sold 6,720 shares of the business’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 transaction, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. The trade was a 12.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the 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 directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 in the last ninety days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on WEC. Jefferies Financial Group assumed 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 objective for the company. Scotiabank increased their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Finally, Barclays boosted their price target on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $101.05 on Friday. The stock has a market capitalization of $31.97 billion, a PE ratio of 24.71, a PEG ratio of 2.75 and a beta of 0.44. The business’s 50 day simple moving average is $97.33 and its 200 day simple moving average is $89.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $102.79.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

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.