Golden State Equity Partners Has $365,000 Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Golden State Equity Partners trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,792 shares of the utilities provider’s stock after selling 763 shares during the quarter. Golden State Equity Partners’ holdings in WEC Energy Group were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its holdings in shares of WEC Energy Group by 2.7% in the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 134 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of WEC Energy Group by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 34,210 shares of the utilities provider’s stock worth $2,809,000 after acquiring an additional 145 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of WEC Energy Group by 9.1% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 26,278 shares of the utilities provider’s stock worth $2,158,000 after acquiring an additional 2,185 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of WEC Energy Group by 39.3% in the 1st quarter. Van ECK Associates Corp now owns 106,126 shares of the utilities provider’s stock worth $8,715,000 after acquiring an additional 29,928 shares in the last quarter. Finally, Norden Group LLC acquired a new position in shares of WEC Energy Group in the 1st quarter worth approximately $474,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In related news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock worth $1,078,058 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $96.03 on Thursday. The firm has a fifty day moving average of $95.44 and a two-hundred day moving average of $87.01. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.50 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS 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. Investors of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets boosted their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. KeyCorp boosted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.45.

About WEC Energy Group

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.