Arkadios Wealth Advisors Invests $969,000 in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Arkadios Wealth Advisors has acquired a new position in WEC Energy Group, purchasing 8,891 shares valued at approximately $969,000.
• Research analysts have mixed ratings on WEC Energy Group, with a consensus rating of "Hold" and an average price target of $106.40.
• The company recently revealed a quarterly dividend of $0.8925, reflecting an annualized yield of 3.2% and a payout ratio of 68.39%.

Arkadios Wealth Advisors purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,891 shares of the utilities provider's stock, valued at approximately $969,000.

A number of other large investors also recently bought and sold shares of the business. Deutsche Bank AG grew its position in WEC Energy Group by 3.1% in the fourth quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock worth $538,112,000 after acquiring an additional 173,006 shares during the period. Invesco Ltd. grew its stake in shares of WEC Energy Group by 7.9% in the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock valued at $396,114,000 after purchasing an additional 309,697 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in WEC Energy Group by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock valued at $370,128,000 after purchasing an additional 526,014 shares in the last quarter. Northern Trust Corp lifted its position in shares of WEC Energy Group by 3.8% during the 4th quarter. Northern Trust Corp now owns 3,815,407 shares of the utilities provider's stock valued at $358,801,000 after acquiring an additional 141,393 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of WEC Energy Group by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider's stock worth $274,564,000 after purchasing an additional 430,269 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Analyst Ratings Changes

WEC has been the subject of several research reports. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Barclays boosted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $106.40.

WEC Energy Group Stock Performance

Shares of WEC traded up $1.33 during trading hours on Thursday, reaching $111.06. 1,084,485 shares of the company traded hands, compared to its average volume of 2,213,706. WEC Energy Group, Inc. has a 1-year low of $86.76 and a 1-year high of $111.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The stock has a market cap of $35.74 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 3.02 and a beta of 0.42. The stock's fifty day moving average is $106.18 and its 200 day moving average is $105.55.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be paid a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. WEC Energy Group's dividend payout ratio is presently 68.39%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president directly owned 6,606 shares of the company's stock, valued at $734,190.84. The trade was a 47.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mary Beth Straka sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.55, for a total transaction of $276,375.00. Following the sale, the vice president directly owned 4,219 shares in the company, valued at $466,410.45. This trade represents a 37.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,752 shares of company stock worth $6,610,023. 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.