FSA Wealth Management LLC Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

FSA Wealth Management LLC purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 900 shares of the utilities provider’s stock, valued at approximately $87,000.

Other large investors have also made changes to their positions in the company. Coastline Trust Co bought a new stake in WEC Energy Group during the 3rd quarter worth about $29,000. Global X Japan Co. Ltd. boosted its stake in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the second quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC opened at $101.05 on Friday. The firm has a market cap of $31.97 billion, a P/E ratio of 24.71, a PEG ratio of 2.75 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The firm’s 50 day moving average price is $97.33 and its two-hundred day moving average price is $89.46.

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 the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. On average, analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company 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 dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.31%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Buying and Selling

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Jefferies Financial Group started coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, KeyCorp upped their price target on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.45.

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.