WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Thomas Story & Son LLC

Key Points

• Thomas Story & Son LLC increased its holdings in WEC Energy Group by 3.9%, now owning 86,935 shares valued at approximately $9.47 million.
• A number of analysts have varying ratings on WEC Energy Group stock, with a consensus rating of "Hold" and a price target around $106.40.
• WEC Energy Group reported a strong quarterly earnings performance, with EPS of $0.76 exceeding expectations by $0.05, and revenue of $2.01 billion, surpassing forecasts by a significant margin.

Thomas Story & Son LLC increased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,935 shares of the utilities provider's stock after buying an additional 3,261 shares during the quarter. WEC Energy Group comprises approximately 3.7% of Thomas Story & Son LLC's investment portfolio, making the stock its 13th largest holding. Thomas Story & Son LLC's holdings in WEC Energy Group were worth $9,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Horizon Investment Services LLC acquired a new stake in WEC Energy Group in the 1st quarter valued at $379,000. Los Angeles Capital Management LLC raised its holdings in shares of WEC Energy Group by 2,964.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after acquiring an additional 105,106 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of WEC Energy Group during the 1st quarter worth $10,333,000. Sowell Financial Services LLC purchased a new stake in WEC Energy Group in the 1st quarter valued at about $325,000. Finally, CWA Asset Management Group LLC raised its holdings in WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock valued at $321,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.55, for a total value of $276,375.00. Following the sale, the vice president directly owned 4,219 shares in the company, valued at $466,410.45. This represents a 37.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares of the company's stock, valued at $643,113.57. The trade was a 40.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,372 shares of company stock valued at $6,789,843 in the last three months. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC opened at $109.73 on Tuesday. 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 52-week low of $87.71 and a 52-week high of $111.90. The stock has a 50 day moving average price of $106.38 and a 200 day moving average price of $105.89. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 3.03 and a beta of 0.42.

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

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be given a $0.8925 dividend. The ex-dividend date is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's dividend payout ratio is presently 68.39%.

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.

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