Prossimo Advisors LLC Purchases 420 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Prossimo Advisors LLC boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,383 shares of the utilities provider’s stock after purchasing an additional 420 shares during the quarter. Prossimo Advisors LLC’s holdings in WEC Energy Group were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Global X Japan Co. Ltd. grew its holdings in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC bought a new stake in WEC Energy Group during the 2nd quarter worth approximately $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group in the second quarter worth approximately $31,000. FinTrust Capital Advisors LLC lifted its holdings in shares of WEC Energy Group by 52.6% in the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. Finally, ESL Trust Services LLC bought a new position in shares of WEC Energy Group in the first quarter valued at approximately $37,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.0 %

Shares of WEC opened at $95.57 on Friday. The firm has a market cap of $30.21 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 2.46 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.65. The business has a 50-day moving average of $95.55 and a 200 day moving average of $87.25.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the company posted $1.00 EPS. WEC Energy Group’s revenue was down 4.8% compared to the same quarter last year. As a group, research analysts forecast 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 Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Analyst Ratings Changes

Several brokerages have weighed in on WEC. Scotiabank raised their price objective on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Barclays increased their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three 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 company’s stock. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $94.45.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by company insiders.

WEC Energy Group 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.