Claro Advisors LLC Has $924,000 Stake in WEC Energy Group, Inc. (NYSE:WEC)

Claro Advisors LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,610 shares of the utilities provider’s stock after buying an additional 835 shares during the period. Claro Advisors LLC’s holdings in WEC Energy Group were worth $924,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WEC. Global X Japan Co. Ltd. raised its holdings in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at $29,000. Coastline Trust Co purchased a new position in WEC Energy Group during the 3rd quarter worth $29,000. William B. Walkup & Associates Inc. purchased a new position in WEC Energy Group during the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the 2nd quarter worth about $36,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 43.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The trade was a 46.94 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

WEC Energy Group Price Performance

WEC opened at $97.98 on Monday. The business has a fifty day moving average of $96.24 and a 200 day moving average of $88.34. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The stock has a market cap of $31.00 billion, a P/E ratio of 23.96, a PEG ratio of 2.66 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WEC. Wells Fargo & Company boosted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective on the stock. Scotiabank upped their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.45.

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.