Red Cedar Investment Management LLC Buys 1,671 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Red Cedar Investment Management LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,132 shares of the utilities provider’s stock after acquiring an additional 1,671 shares during the period. Red Cedar Investment Management LLC’s holdings in WEC Energy Group were worth $1,189,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WEC. Brookstone Capital Management boosted its holdings in WEC Energy Group by 2.0% in the 3rd quarter. Brookstone Capital Management now owns 13,381 shares of the utilities provider’s stock worth $1,103,000 after buying an additional 268 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of WEC Energy Group by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 155,537 shares of the utilities provider’s stock worth $12,529,000 after acquiring an additional 4,097 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the third quarter worth about $301,000. Xponance Inc. grew its position in shares of WEC Energy Group by 2.2% during the third quarter. Xponance Inc. now owns 39,331 shares of the utilities provider’s stock worth $3,168,000 after purchasing an additional 832 shares in the last quarter. Finally, Mission Wealth Management LP raised its stake in WEC Energy Group by 19.3% during the 3rd quarter. Mission Wealth Management LP now owns 5,290 shares of the utilities provider’s stock valued at $426,000 after purchasing an additional 855 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Scotiabank decreased their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. The Goldman Sachs Group initiated coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, BMO Capital Markets increased their price target on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average price target of $86.29.

WEC Energy Group Trading Up 0.2 %

WEC traded up $0.14 during trading on Friday, reaching $83.22. The company had a trading volume of 1,780,159 shares, compared to its average volume of 1,750,358. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The business has a 50 day simple moving average of $80.69 and a 200-day simple moving average of $81.44. The stock has a market cap of $26.25 billion, a P/E ratio of 18.17, a PEG ratio of 2.88 and a beta of 0.40. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $96.17.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.01%. WEC Energy Group’s payout ratio is 72.93%.

Insider Buying and Selling

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

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.