WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in WEC Energy Group by 3.6%, now holding 133,511 shares worth approximately $14.55 million.
• WEC Energy Group reported earnings per share of $0.76 for the last quarter, exceeding analysts' expectations, with revenue rising 13.4% year-over-year to $2.01 billion.
• The company declared a quarterly dividend of $0.8925 per share, set to be paid on September 1st, reflecting a 3.2% yield.

Townsquare Capital LLC boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 133,511 shares of the utilities provider's stock after buying an additional 4,656 shares during the period. Townsquare Capital LLC's holdings in WEC Energy Group were worth $14,550,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of WEC. Hughes Financial Services LLC purchased a new position in shares of WEC Energy Group during the first quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the first quarter valued at about $32,000. Golden State Wealth Management LLC grew its position in shares of WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Creekmur Asset Management LLC grew its position in shares of WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 363 shares in the last quarter. Finally, Stephens Consulting LLC grew its position in shares of WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on WEC shares. Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. UBS Group set a $107.00 price target on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Barclays raised their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, WEC Energy Group presently has an average rating of "Hold" and an average target price of $106.40.

WEC Energy Group Trading Down 0.3%

Shares of WEC Energy Group stock traded down $0.32 on Friday, hitting $110.38. 1,800,820 shares of the company traded hands, compared to its average volume of 2,057,527. The company has a market cap of $35.53 billion, a PE ratio of 21.15, a PEG ratio of 3.03 and a beta of 0.42. WEC Energy Group, Inc. has a 52 week low of $86.76 and a 52 week high of $111.90. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock's 50 day moving average price is $106.33 and its 200-day moving average price is $105.75.

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

WEC Energy Group Cuts Dividend

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

Insider Buying and Selling

In other WEC Energy Group news, EVP Daniel Krueger sold 5,930 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the sale, the executive vice president directly owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.55, for a total transaction of $276,375.00. Following the completion of the sale, the vice president directly owned 4,219 shares in the company, valued at approximately $466,410.45. The trade was a 37.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,752 shares of company stock valued at $6,610,023 in the last 90 days. 0.50% of the stock is currently owned by 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.