IAG Wealth Partners LLC Decreases Holdings in WEC Energy Group, Inc. (NYSE:WEC)

IAG Wealth Partners LLC cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,942 shares of the utilities provider’s stock after selling 632 shares during the period. IAG Wealth Partners LLC’s holdings in WEC Energy Group were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WEC. Portside Wealth Group LLC grew its position in shares of WEC Energy Group by 1.2% during the 3rd quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider’s stock valued at $837,000 after acquiring an additional 127 shares during the period. Balentine LLC grew its position in shares of WEC Energy Group by 2.7% during the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 131 shares during the period. Blossom Wealth Management grew its position in shares of WEC Energy Group by 3.6% during the 3rd quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 132 shares during the period. Gradient Investments LLC grew its position in shares of WEC Energy Group by 3.6% during the 3rd quarter. Gradient Investments LLC now owns 3,979 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 139 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of WEC Energy Group by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 10,283 shares of the utilities provider’s stock valued at $828,000 after acquiring an additional 144 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 1.6 %

WEC opened at $81.49 on Friday. The firm has a 50-day simple moving average of $80.25 and a two-hundred day simple moving average of $81.42. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $97.34. The company has a market capitalization of $25.70 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.82 and a beta of 0.40. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last released 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. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue was down 13.3% on a year-over-year basis. Analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 79.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WEC. Bank of America reissued an “underperform” rating and set a $78.00 price objective (down previously from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Scotiabank dropped their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Royal Bank of Canada dropped their target price on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Finally, Barclays dropped their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. 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, the company presently has an average rating of “Hold” and a consensus target price of $86.64.

Insider Buying and Selling at WEC Energy Group

In other 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 transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction dated 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 owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.