AlphaCore Capital LLC Has $436,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

AlphaCore Capital LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,534 shares of the utilities provider’s stock after buying an additional 161 shares during the period. AlphaCore Capital LLC’s holdings in WEC Energy Group were worth $436,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of WEC Energy Group during the 1st quarter worth approximately $115,000. EP Wealth Advisors LLC grew its position in shares of WEC Energy Group by 8.1% in the 1st quarter. EP Wealth Advisors LLC now owns 4,232 shares of the utilities provider’s stock valued at $348,000 after acquiring an additional 316 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of WEC Energy Group by 3.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 583,626 shares of the utilities provider’s stock worth $47,927,000 after purchasing an additional 21,914 shares during the last quarter. BOKF NA lifted its stake in WEC Energy Group by 7.9% in the 1st quarter. BOKF NA now owns 29,379 shares of the utilities provider’s stock valued at $2,396,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Energy Income Partners LLC grew its holdings in WEC Energy Group by 3.4% during the first quarter. Energy Income Partners LLC now owns 1,022,040 shares of the utilities provider’s stock worth $83,930,000 after purchasing an additional 33,705 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE WEC opened at $100.97 on Friday. The firm’s 50 day simple moving average is $96.60 and its 200 day simple moving average is $88.72. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.69 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $101.00.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company posted $1.00 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, research analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal 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 paid a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.31%. WEC Energy Group’s payout ratio is currently 81.66%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. This trade represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 1,805 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the sale, the director now owns 273,248 shares in the company, valued at approximately $27,160,851.20. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,045 shares of company stock valued at $1,038,807. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

WEC has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Scotiabank raised their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.45.

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.