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

MBE Wealth Management LLC raised its position in WEC Energy Group, Inc. (NYSE:WEC) by 9.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,697 shares of the utilities provider’s stock after purchasing an additional 237 shares during the quarter. MBE Wealth Management LLC’s holdings in WEC Energy Group were worth $294,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at about $1,002,000. Heartland Bank & Trust Co purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at about $548,000. First American Bank raised its holdings in shares of WEC Energy Group by 15.2% during the 1st quarter. First American Bank now owns 32,729 shares of the utilities provider’s stock valued at $3,567,000 after buying an additional 4,327 shares during the period. Appleton Partners Inc. MA raised its holdings in shares of WEC Energy Group by 3.1% during the 1st quarter. Appleton Partners Inc. MA now owns 4,006 shares of the utilities provider’s stock valued at $437,000 after buying an additional 119 shares during the period. Finally, Segment Wealth Management LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at about $420,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEC. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and raised their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an “outperform” rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, Barclays raised their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.13.

WEC Energy Group Stock Performance

Shares of WEC opened at $104.05 on Friday. The business’s 50 day moving average is $106.74 and its two-hundred day moving average is $102.97. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The firm has a market cap of $33.20 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.86 and a beta of 0.45. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company posted $1.97 EPS. WEC Energy Group’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. WEC Energy Group’s payout ratio is 69.59%.

Insider Activity

In other news, VP Joshua M. Erickson sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the sale, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. The trade was a 44.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% 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.