Apollon Wealth Management LLC Grows Position in WEC Energy Group, Inc. (NYSE:WEC)

Apollon Wealth Management LLC grew its stake in WEC Energy Group, Inc. (NYSE:WEC) by 77.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,278 shares of the utilities provider’s stock after acquiring an additional 3,605 shares during the quarter. Apollon Wealth Management LLC’s holdings in WEC Energy Group were worth $697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WEC. Mackenzie Financial Corp boosted its position in WEC Energy Group by 2.0% during the third quarter. Mackenzie Financial Corp now owns 26,848 shares of the utilities provider’s stock worth $2,101,000 after acquiring an additional 517 shares during the last quarter. Advisor Partners II LLC grew its position in WEC Energy Group by 4.6% during the third quarter. Advisor Partners II LLC now owns 10,154 shares of the utilities provider’s stock valued at $818,000 after acquiring an additional 444 shares during the period. Park Avenue Securities LLC acquired a new stake in WEC Energy Group during the third quarter worth about $571,000. TIAA Trust National Association acquired a new stake in WEC Energy Group during the third quarter worth about $1,096,000. Finally, Assetmark Inc. grew its holdings in shares of WEC Energy Group by 9.6% during the 3rd quarter. Assetmark Inc. now owns 24,007 shares of the utilities provider’s stock worth $1,934,000 after purchasing an additional 2,093 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the business’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 transaction, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group 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 completion of the sale, the chairman now 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 is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Down 0.2 %

WEC opened at $85.43 on Friday. The firm’s fifty day moving average price is $81.24 and its two-hundred day moving average price is $81.49. The company has a market capitalization of $26.98 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.45 and a beta of 0.40. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $94.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis. On average, analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 3.91%. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WEC shares. Barclays reduced their target price 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. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Wells Fargo & Company lowered their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Royal Bank of Canada reduced 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 research report on Thursday, February 8th. Finally, The Goldman Sachs Group began coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.29.

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.