Catalyst Capital Advisors LLC Boosts Stock Position in WEC Energy Group, Inc. $WEC

Catalyst Capital Advisors LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC) by 72.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 907 shares of the utilities provider’s stock after acquiring an additional 380 shares during the period. Catalyst Capital Advisors LLC’s holdings in WEC Energy Group were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have 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 first quarter worth approximately $25,000. Nova Wealth Management Inc. acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $26,000. Bayforest Capital Ltd acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at $26,000. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $28,000. Finally, WPG Advisers LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $35,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $115.83 on Friday. The company has a market cap of $37.28 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.27 and a beta of 0.47. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.18. The business has a fifty day simple moving average of $111.32 and a 200-day simple moving average of $108.39.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.28 billion during the quarter. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid 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 is Friday, November 14th. WEC Energy Group’s payout ratio is currently 68.39%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WEC. Scotiabank upped their price target on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. BTIG Research raised WEC Energy Group to a “strong-buy” rating in a research report on Wednesday. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. KeyCorp increased their price objective on WEC Energy Group from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, UBS Group increased their price objective on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $118.83.

Insider Buying and Selling at WEC Energy Group

In other news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the sale, the chief executive officer directly owned 56,443 shares of the company’s stock, valued at approximately $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the sale, the director directly owned 20,360 shares of the company’s stock, valued at approximately $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,448 shares of company stock valued at $7,581,132. Company insiders own 0.50% of the company’s stock.

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.