Semmax Financial Advisors Inc. Invests $1.65 Million in WEC Energy Group, Inc. (NYSE:WEC)

Semmax Financial Advisors Inc. acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, Holdings Channel reports. The institutional investor acquired 21,017 shares of the utilities provider’s stock, valued at approximately $1,649,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $25,000. Global X Japan Co. Ltd. raised its stake in 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 worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC bought a new position in WEC Energy Group during the second quarter worth about $29,000. Finally, YHB Investment Advisors Inc. acquired a new position in WEC Energy Group in the first quarter valued at about $32,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WEC. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Scotiabank lifted their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp upped their price objective on WEC Energy Group from $95.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Bank of America boosted their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. 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’s stock. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus target price of $91.31.

WEC Energy Group Stock Up 0.5 %

Shares of WEC stock opened at $95.18 on Tuesday. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $96.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The stock has a market cap of $30.06 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.47 and a beta of 0.44. The firm’s 50-day moving average is $90.07 and its 200-day moving average is $84.06.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,702 shares of company stock worth $1,078,058. Insiders own 0.34% of the company’s stock.

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.