Farther Finance Advisors LLC Has $642,000 Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Farther Finance Advisors LLC raised its stake in WEC Energy Group, Inc. (NYSE:WEC) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,677 shares of the utilities provider’s stock after buying an additional 250 shares during the period. Farther Finance Advisors LLC’s holdings in WEC Energy Group were worth $642,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. Global X Japan Co. Ltd. lifted its holdings in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the second quarter worth $29,000. William B. Walkup & Associates Inc. acquired a new position in shares of WEC Energy Group during the second quarter worth $31,000. Triad Wealth Partners LLC acquired a new position in shares of WEC Energy Group during the second quarter worth $36,000. Finally, ESL Trust Services LLC acquired a new position in shares of WEC Energy Group during the first quarter worth $37,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the business’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 completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,990 shares of company stock valued at $925,727 over the last three months. Corporate insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. Scotiabank boosted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Barclays boosted their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, KeyCorp boosted their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.45.

WEC Energy Group Trading Up 1.3 %

WEC opened at $96.10 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The company has a market cap of $30.38 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 2.46 and a beta of 0.44. The company has a fifty day moving average price of $95.66 and a two-hundred day moving average price of $87.51.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. Analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is presently 81.66%.

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.