Significant Wealth Partners LLC Invests $367,000 in WEC Energy Group, Inc. (NYSE:WEC)

Significant Wealth Partners LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,357 shares of the utilities provider’s stock, valued at approximately $367,000.

Several other large investors have also recently modified their holdings of WEC. American Century Companies Inc. raised its position in shares of WEC Energy Group by 5,257.7% in the 3rd quarter. American Century Companies Inc. now owns 1,465,114 shares of the utilities provider’s stock worth $118,015,000 after purchasing an additional 1,437,768 shares during the last quarter. Envestnet Asset Management Inc. raised its position in WEC Energy Group by 131.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 861,320 shares of the utilities provider’s stock worth $69,379,000 after buying an additional 488,917 shares during the last quarter. CI Investments Inc. raised its position in WEC Energy Group by 17,727.0% in the 3rd quarter. CI Investments Inc. now owns 371,872 shares of the utilities provider’s stock worth $29,954,000 after buying an additional 369,786 shares during the last quarter. International Assets Investment Management LLC raised its position in WEC Energy Group by 8,801.5% in the 4th quarter. International Assets Investment Management LLC now owns 261,793 shares of the utilities provider’s stock worth $22,035,000 after buying an additional 258,852 shares during the last quarter. Finally, Vaughan David Investments LLC IL raised its position in WEC Energy Group by 88.9% in the 3rd quarter. Vaughan David Investments LLC IL now owns 414,324 shares of the utilities provider’s stock worth $33,374,000 after buying an additional 195,025 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 0.5 %

WEC opened at $81.97 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $98.80. The company has a market capitalization of $25.86 billion, a PE ratio of 19.42, a PEG ratio of 2.84 and a beta of 0.40. The firm’s 50 day simple moving average is $79.86 and its two-hundred day simple moving average is $81.40.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s revenue was down 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given 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 dividend yield of 4.07%. WEC Energy Group’s payout ratio is 79.15%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Scotiabank cut their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday. Barclays lowered 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 note on Thursday, February 8th. Finally, The Goldman Sachs Group started coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $86.64.

Insider Activity

In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. Insiders own 0.44% 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.