J.W. Cole Advisors Inc. Invests $2.68 Million in WEC Energy Group, Inc. (NYSE:WEC)

J.W. Cole Advisors Inc. purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 24,557 shares of the utilities provider's stock, valued at approximately $2,676,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new stake in shares of WEC Energy Group during the 1st quarter worth about $10,333,000. Sowell Financial Services LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter worth about $325,000. CWA Asset Management Group LLC raised its stake in shares of WEC Energy Group by 5.6% during the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after purchasing an additional 157 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of WEC Energy Group by 16.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider's stock worth $26,702,000 after purchasing an additional 34,986 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of WEC Energy Group by 55.0% in the 1st quarter. DAVENPORT & Co LLC now owns 35,710 shares of the utilities provider's stock valued at $3,892,000 after acquiring an additional 12,665 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $108.21 on Tuesday. WEC Energy Group, Inc. has a 1-year low of $81.45 and a 1-year high of $111.00. The firm has a market capitalization of $34.53 billion, a PE ratio of 20.77, a PEG ratio of 2.96 and a beta of 0.44. The business's 50 day moving average is $105.26 and its 200-day moving average is $104.38. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $1.97 EPS. WEC Energy Group's revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently declared 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. This represents a $3.57 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's dividend payout ratio is 69.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WEC. Wells Fargo & Company raised their price objective on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, UBS Group raised their price objective on WEC Energy Group from $105.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $106.40.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction 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 sale, the vice president owned 2,686 shares of the company's stock, valued at $289,470.22. The trade was a 44.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Profile

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.

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