Benjamin F. Edwards & Company Inc. Acquires 421,731 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Benjamin F. Edwards & Company Inc. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2,122.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 441,603 shares of the utilities provider’s stock after acquiring an additional 421,731 shares during the period. WEC Energy Group comprises 0.7% of Benjamin F. Edwards & Company Inc.’s holdings, making the stock its 26th biggest holding. Benjamin F. Edwards & Company Inc. owned approximately 0.14% of WEC Energy Group worth $37,170,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WEC. Tennessee Valley Asset Management Partners acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at about $28,000. Fortitude Family Office LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at about $33,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of WEC Energy Group during the third quarter valued at about $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of WEC Energy Group in the third quarter worth approximately $38,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 0.6 %

Shares of NYSE WEC traded up $0.49 during midday trading on Thursday, hitting $83.08. 1,993,142 shares of the stock traded hands, compared to its average volume of 2,143,110. The company has a market cap of $26.21 billion, a PE ratio of 19.64, a P/E/G ratio of 2.86 and a beta of 0.40. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.17. The business has a 50 day moving average price of $80.50 and a two-hundred day moving average price of $81.43. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 earnings per share. On average, equities analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.02%. WEC Energy Group’s dividend payout ratio (DPR) is currently 79.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets lifted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday. KeyCorp lifted their price objective on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. 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 research note on Thursday, January 4th. Barclays cut their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Finally, Wells Fargo & Company cut their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $86.29.

Insider Buying and Selling

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

About WEC Energy Group

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.