Resources Management Corp CT ADV Has $472,000 Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Resources Management Corp CT ADV lessened its position in WEC Energy Group, Inc. (NYSE:WEC) by 25.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,022 shares of the utilities provider’s stock after selling 2,035 shares during the period. Resources Management Corp CT ADV’s holdings in WEC Energy Group were worth $472,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. Alley Investment Management Company LLC increased its stake in WEC Energy Group by 324.5% during the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock valued at $3,304,000 after purchasing an additional 30,009 shares in the last quarter. Lantz Financial LLC increased its position in shares of WEC Energy Group by 324.9% during the first quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock worth $2,337,000 after acquiring an additional 21,758 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of WEC Energy Group by 18.2% during the fourth quarter. Quadrature Capital Ltd now owns 38,980 shares of the utilities provider’s stock worth $3,282,000 after acquiring an additional 5,994 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of WEC Energy Group by 789.0% in the 1st quarter. Brookstone Capital Management now owns 125,219 shares of the utilities provider’s stock worth $10,283,000 after acquiring an additional 111,134 shares during the last quarter. Finally, Keystone Financial Planning Inc. bought a new position in WEC Energy Group in the 1st quarter valued at about $7,116,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on WEC shares. Wells Fargo & Company boosted their price objective on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. KeyCorp upped their price target on WEC Energy Group from $95.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays raised their price objective on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets upped their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Finally, StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $91.31.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $94.56 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The firm has a market cap of $29.89 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.45 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $96.65. The firm’s 50-day simple moving average is $90.34 and its two-hundred day simple moving average is $84.15.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast 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 was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were given a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.53%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by company insiders.

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.