Tower Wealth Partners Inc. Buys New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Tower Wealth Partners Inc. purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,110 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Global X Japan Co. Ltd. raised its holdings in shares of 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 purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new stake in WEC Energy Group during the 2nd quarter worth about $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group during the 2nd quarter valued at about $31,000. FinTrust Capital Advisors LLC lifted its holdings in shares of WEC Energy Group by 52.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after buying an additional 142 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in shares of WEC Energy Group in the second quarter worth about $36,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 0.0 %

WEC stock opened at $95.57 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $95.55 and a two-hundred day moving average of $87.18. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31. The company has a market cap of $30.21 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.46 and a beta of 0.44.

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

WEC Energy Group Dividend Announcement

The company also recently declared 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 3.49%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WEC shares. Jefferies Financial Group started coverage on WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target for the company. Bank of America increased their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank lifted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.45.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

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.