Blue Barn Wealth LLC Acquires 193 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Blue Barn Wealth LLC increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,341 shares of the utilities provider’s stock after buying an additional 193 shares during the period. Blue Barn Wealth LLC’s holdings in WEC Energy Group were worth $281,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in WEC Energy Group during the fourth quarter valued at $26,000. Valued Wealth Advisors LLC bought a new stake in WEC Energy Group in the 4th quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in WEC Energy Group during the fourth quarter valued at about $33,000. Authentikos Wealth Advisory LLC purchased a new position in shares of WEC Energy Group in the third quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at approximately $40,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WEC shares. KeyCorp boosted their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company decreased their price target on 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. Scotiabank cut their price objective on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada decreased their target price on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Finally, BMO Capital Markets boosted their price target on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $86.29.

WEC Energy Group Trading Up 1.3 %

Shares of WEC Energy Group stock traded up $1.08 during trading on Wednesday, reaching $84.91. The company’s stock had a trading volume of 1,776,914 shares, compared to its average volume of 2,123,063. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The company has a market cap of $26.82 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.37 and a beta of 0.40. The firm’s 50-day moving average is $80.94 and its two-hundred day moving average is $81.43. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $95.70.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $1.61 EPS. WEC Energy Group’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side 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 issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Activity

In related news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 29th. The stock was 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 of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $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 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.