Cerity Partners LLC Has $2.59 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Cerity Partners LLC increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 136.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,751 shares of the utilities provider’s stock after purchasing an additional 17,750 shares during the quarter. Cerity Partners LLC’s holdings in WEC Energy Group were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Achmea Investment Management B.V. acquired a new stake in WEC Energy Group during the 1st quarter worth approximately $27,000. Valued Wealth Advisors LLC acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $28,000. First Manhattan Co. lifted its holdings in WEC Energy Group by 102.0% during the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 153 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $33,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth approximately $38,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

WEC Energy Group Trading Up 1.0 %

Shares of WEC stock opened at $80.44 on Friday. The firm has a market capitalization of $25.37 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.77 and a beta of 0.40. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $98.80. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The stock’s fifty day simple moving average is $79.70 and its 200 day simple moving average is $81.31.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was down 13.3% on a year-over-year basis. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.15%. WEC Energy Group’s dividend payout ratio is 79.15%.

Analyst Ratings Changes

Several analysts recently weighed in on WEC shares. KeyCorp lifted their price target on WEC Energy Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Bank of America reaffirmed an “underperform” rating and issued a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Barclays dropped their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Finally, Royal Bank of Canada dropped their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $86.31.

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.