Pathstone Holdings LLC Has $2.41 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Pathstone Holdings LLC cut its position in WEC Energy Group, Inc. (NYSE:WEC) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,091 shares of the utilities provider’s stock after selling 854 shares during the quarter. Pathstone Holdings LLC’s holdings in WEC Energy Group were worth $2,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in WEC Energy Group by 2.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,876 shares of the utilities provider’s stock worth $554,000 after purchasing an additional 142 shares during the last quarter. Comerica Bank boosted its stake in WEC Energy Group by 1.1% in the first quarter. Comerica Bank now owns 98,183 shares of the utilities provider’s stock valued at $8,063,000 after buying an additional 1,093 shares in the last quarter. KLCM Advisors Inc. grew its position in WEC Energy Group by 4.7% in the first quarter. KLCM Advisors Inc. now owns 35,942 shares of the utilities provider’s stock valued at $2,952,000 after acquiring an additional 1,611 shares during the last quarter. Cetera Investment Advisers raised its stake in WEC Energy Group by 359.5% during the first quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock worth $9,453,000 after acquiring an additional 90,062 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of WEC Energy Group by 76.7% in the first quarter. Cetera Advisors LLC now owns 28,740 shares of the utilities provider’s stock worth $2,360,000 after acquiring an additional 12,471 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WEC. Scotiabank upped their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Bank of America boosted their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, KeyCorp raised their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.45.

Insider Buying and Selling at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction dated 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 directly owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the sale, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,034 shares of company stock valued at $5,725,969. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Trading Up 0.7 %

Shares of WEC stock opened at $101.36 on Tuesday. The company has a market cap of $32.07 billion, a P/E ratio of 24.78, a PEG ratio of 2.73 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $101.59. The stock has a 50 day simple moving average of $96.80 and a two-hundred day simple moving average of $89.02. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.30%. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

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.