FSM Wealth Advisors LLC Makes New Investment in WEC Energy Group, Inc. $WEC

Key Points

• FSM Wealth Advisors LLC acquired a new position in WEC Energy Group, Inc. by purchasing 2,596 shares valued at approximately $271,000 during the 2nd quarter.
• Insider selling activity includes EVP Daniel Krueger selling 5,930 shares for over $659,000, representing a 47.30% decrease in his position.
• The company declared a quarterly dividend of $0.8925 per share, with an annualized yield of 3.1%, to be paid on December 1st.

FSM Wealth Advisors LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,596 shares of the utilities provider's stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WEC. Nuveen LLC acquired a new stake in WEC Energy Group in the first quarter worth about $403,372,000. Charles Schwab Investment Management Inc. raised its position in shares of WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock worth $567,727,000 after buying an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock worth $556,191,000 after buying an additional 726,267 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock worth $77,290,000 after acquiring an additional 665,681 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of WEC Energy Group by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider's stock valued at $274,564,000 after acquiring an additional 430,269 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of the business's stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the sale, the director owned 20,360 shares of the company's stock, valued at $2,259,960. The trade was a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock worth $7,581,132 in the last quarter. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 1.3%

Shares of NYSE WEC opened at $115.93 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18. The company has a market cap of $37.31 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 3.31 and a beta of 0.47. The business has a fifty day simple moving average of $111.15 and a 200-day simple moving average of $108.26.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion for the quarter. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. WEC Energy Group's dividend payout ratio is 68.39%.

Wall Street Analyst Weigh In

WEC has been the topic of several recent analyst reports. UBS Group boosted their target price on WEC Energy Group from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. TD Cowen started coverage on WEC Energy Group in a research report on Thursday, October 16th. They set a "hold" rating and a $125.00 price target on the stock. Cowen started coverage on WEC Energy Group in a report on Wednesday, October 15th. They issued a "hold" rating for the company. Citigroup started coverage on WEC Energy Group in a research note on Friday, October 3rd. They set a "buy" rating and a $131.00 target price for the company. Finally, Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of "Hold" and an average price target of $118.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.