Hantz Financial Services Inc. Takes $965,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Hantz Financial Services Inc. purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,294 shares of the utilities provider’s stock, valued at approximately $965,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Securities Inc. bought a new stake in WEC Energy Group in the 4th quarter worth about $983,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in WEC Energy Group by 6.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,255 shares of the utilities provider’s stock worth $27,391,000 after buying an additional 19,867 shares in the last quarter. Alley Investment Management Company LLC increased its holdings in WEC Energy Group by 324.5% in the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock worth $3,304,000 after buying an additional 30,009 shares in the last quarter. Advisory Services Network LLC increased its holdings in WEC Energy Group by 34.0% in the 4th quarter. Advisory Services Network LLC now owns 37,561 shares of the utilities provider’s stock worth $3,162,000 after buying an additional 9,526 shares in the last quarter. Finally, Lantz Financial LLC increased its holdings in WEC Energy Group by 324.9% in the 1st quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock worth $2,337,000 after buying an additional 21,758 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on WEC shares. Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday. Scotiabank boosted 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. Barclays boosted their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price target on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.77.

WEC Energy Group Stock Up 0.3 %

WEC stock opened at $93.03 on Friday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.78. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a market cap of $29.40 billion, a P/E ratio of 20.31, a PEG ratio of 2.40 and a beta of 0.41. The business’s 50-day moving average price is $84.87 and its 200-day moving average price is $82.17.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities research analysts forecast 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 will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Insider Activity

In other news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, 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. In the last 90 days, insiders have sold 8,462 shares of company stock valued at $776,608. 0.34% of the stock is currently owned by insiders.

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.