Principle Wealth Partners LLC Has $302,000 Stock Position in WEC Energy Group, Inc. $WEC

Principle Wealth Partners LLC grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,895 shares of the utilities provider’s stock after buying an additional 125 shares during the quarter. Principle Wealth Partners LLC’s holdings in WEC Energy Group were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $26,000. Bayforest Capital Ltd acquired a new stake in shares of WEC Energy Group in the 2nd quarter worth about $26,000. Hughes Financial Services LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $28,000. Finally, WPG Advisers LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter worth about $35,000. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a report on Tuesday. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a report on Wednesday, October 8th. KeyCorp upped their price objective on shares of WEC Energy Group from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Cowen started coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They issued a “hold” rating for the company. Finally, TD Cowen started coverage on shares of WEC Energy Group in a research report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $118.83.

Insider Activity

In other news, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director directly owned 274,969 shares of the company’s stock, valued at $30,447,317.37. This represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares of the company’s stock, valued at $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by insiders.

WEC Energy Group Trading Down 1.3%

Shares of WEC stock opened at $115.93 on Friday. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18. 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 company has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $108.26. The company has a market capitalization of $37.31 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 3.31 and a beta of 0.47.

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

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. 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.