Robertson Stephens Wealth Management LLC Buys 206 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Robertson Stephens Wealth Management LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 6.8% in the 4th quarter, Holdings Channel reports. The firm owned 3,257 shares of the utilities provider’s stock after acquiring an additional 206 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in WEC Energy Group were worth $274,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in WEC Energy Group by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 155,537 shares of the utilities provider’s stock valued at $12,529,000 after acquiring an additional 4,097 shares in the last quarter. Xponance Inc. boosted its holdings in WEC Energy Group by 2.2% in the 3rd quarter. Xponance Inc. now owns 39,331 shares of the utilities provider’s stock valued at $3,168,000 after purchasing an additional 832 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of WEC Energy Group by 3.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 317,154 shares of the utilities provider’s stock valued at $25,547,000 after purchasing an additional 11,865 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of WEC Energy Group by 47.8% in the third quarter. Independent Advisor Alliance now owns 19,349 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 6,260 shares during the period. Finally, Forsta AP Fonden raised its position in shares of WEC Energy Group by 1.6% in the third quarter. Forsta AP Fonden now owns 69,600 shares of the utilities provider’s stock worth $5,606,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WEC. BMO Capital Markets boosted their target price on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Barclays decreased their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Finally, Royal Bank of Canada lowered their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. 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 stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $86.29.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the business’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 owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, 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 currently owned by corporate insiders.

WEC Energy Group Stock Up 0.2 %

Shares of NYSE:WEC opened at $83.22 on Friday. The stock has a market capitalization of $26.25 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.88 and a beta of 0.40. The stock’s 50-day moving average price is $80.60 and its 200-day moving average price is $81.44. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.24. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.17.

WEC Energy Group (NYSE:WEC) last posted its quarterly 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. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $1.61 EPS. WEC Energy Group’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 yield of 4.01%. WEC Energy Group’s payout ratio is currently 72.93%.

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.