Richardson Financial Services Inc. Has $137,000 Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Richardson Financial Services Inc. boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,743 shares of the utilities provider’s stock after acquiring an additional 206 shares during the quarter. Richardson Financial Services Inc.’s holdings in WEC Energy Group were worth $137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. boosted its stake in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE:WEC opened at $93.78 on Friday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.65. The firm has a market capitalization of $29.62 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. The firm has a 50-day moving average price of $89.48 and a 200 day moving average price of $83.82. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Insider Activity

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction dated 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 directly owns 7,702 shares in the company, valued at approximately $716,208.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America boosted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research note on Thursday. They set a “hold” rating and a $102.00 target price for the company. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, KeyCorp boosted their price objective on shares of WEC Energy Group from $95.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday. Four 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. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $91.31.

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.