Concurrent Investment Advisors LLC Purchases 5,648 Shares of WEC Energy Group, Inc. $WEC

Concurrent Investment Advisors LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC) by 24.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,299 shares of the utilities provider’s stock after acquiring an additional 5,648 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in WEC Energy Group were worth $2,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in WEC. GAMMA Investing LLC raised its holdings in shares of WEC Energy Group by 18.2% in the first quarter. GAMMA Investing LLC now owns 16,829 shares of the utilities provider’s stock valued at $1,834,000 after acquiring an additional 2,587 shares in the last quarter. CX Institutional bought a new stake in shares of WEC Energy Group in the first quarter valued at about $193,000. Wealth Enhancement Advisory Services LLC grew its stake in WEC Energy Group by 16.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider’s stock valued at $26,702,000 after purchasing an additional 34,986 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the first quarter worth about $32,000. Finally, Dynamic Advisor Solutions LLC bought a new position in WEC Energy Group in the first quarter worth about $522,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. UBS Group boosted their target price on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday. LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday. Scotiabank boosted their target price on shares of WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Citigroup initiated coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price for the company. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $112.20.

Insider Transactions at WEC Energy Group

In related news, Director Gale E. Klappa sold 5,960 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $110.98, for a total value of $661,440.80. Following the sale, the director owned 274,969 shares in the company, valued at $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock valued at $7,581,132 over the last quarter. Company insiders own 0.50% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC stock opened at $115.02 on Tuesday. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $115.90. The firm has a market capitalization of $37.02 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 3.16 and a beta of 0.47. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The stock’s 50-day simple moving average is $110.02 and its 200-day simple moving average is $107.74.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.28 billion for the quarter. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were given a $0.8925 dividend. The ex-dividend date was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.1%. WEC Energy Group’s dividend payout ratio is currently 68.39%.

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.