TrinityPoint Wealth LLC Has $391,000 Position in WEC Energy Group Inc (NYSE:WEC)

TrinityPoint Wealth LLC increased its position in WEC Energy Group Inc (NYSE:WEC) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,557 shares of the utilities provider’s stock after buying an additional 132 shares during the quarter. TrinityPoint Wealth LLC’s holdings in WEC Energy Group were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in WEC Energy Group by 1.2% in the first quarter. Northern Trust Corp now owns 5,306,680 shares of the utilities provider’s stock valued at $419,652,000 after acquiring an additional 65,226 shares during the last quarter. Geode Capital Management LLC boosted its holdings in WEC Energy Group by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 4,266,754 shares of the utilities provider’s stock valued at $295,016,000 after acquiring an additional 356,209 shares during the last quarter. California Public Employees Retirement System boosted its holdings in WEC Energy Group by 17.9% in the first quarter. California Public Employees Retirement System now owns 1,974,669 shares of the utilities provider’s stock valued at $156,157,000 after acquiring an additional 300,440 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in WEC Energy Group by 1.0% in the first quarter. Pictet Asset Management Ltd. now owns 1,927,129 shares of the utilities provider’s stock valued at $152,397,000 after acquiring an additional 19,195 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in WEC Energy Group by 2.7% in the first quarter. Swiss National Bank now owns 1,724,981 shares of the utilities provider’s stock valued at $136,411,000 after acquiring an additional 45,200 shares during the last quarter. 76.29% of the stock is owned by institutional investors.

In related news, Director Barbara L. Bowles sold 1,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $89.73, for a total value of $89,730.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William J. Guc sold 7,005 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.09, for a total value of $617,070.45. Following the completion of the transaction, the vice president now owns 13,366 shares in the company, valued at $1,177,410.94. The disclosure for this sale can be found here. Insiders have sold a total of 89,234 shares of company stock worth $7,889,503 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Shares of WEC Energy Group stock traded up $0.53 on Friday, reaching $93.67. 336,486 shares of the company’s stock were exchanged, compared to its average volume of 1,878,651. The company has a market capitalization of $28.96 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 4.42 and a beta of 0.11. WEC Energy Group Inc has a 52 week low of $64.96 and a 52 week high of $93.29. The firm’s 50-day moving average is $87.52 and its two-hundred day moving average is $81.08. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. On average, analysts expect that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Tuesday, August 13th. WEC Energy Group’s payout ratio is 70.66%.

Several analysts recently commented on WEC shares. Scotiabank cut WEC Energy Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $78.00 in a report on Wednesday, May 8th. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the company a “sell” rating in a report on Friday, April 26th. Bank of America cut WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $82.00 to $85.00 in a report on Monday, June 24th. KeyCorp initiated coverage on WEC Energy Group in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Finally, Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $84.00 to $85.00 in a report on Tuesday, August 6th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.75.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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