Spirit of America Management Corp NY Has $1.62 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Spirit of America Management Corp NY lifted its position in WEC Energy Group, Inc. (NYSE:WEC) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,200 shares of the utilities provider’s stock after purchasing an additional 450 shares during the quarter. Spirit of America Management Corp NY’s holdings in WEC Energy Group were worth $1,617,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Coastline Trust Co bought a new stake in shares of WEC Energy Group in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group in the 3rd quarter worth about $45,000. Friedenthal Financial bought a new stake in shares of WEC Energy Group in the 3rd quarter worth about $50,000. Future Financial Wealth Managment LLC bought a new stake in shares of WEC Energy Group in the 3rd quarter worth about $63,000. Finally, Robbins Farley bought a new stake in shares of WEC Energy Group in the 4th quarter worth about $64,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WEC shares. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a report on Monday, December 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Scotiabank increased their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $100.00.

Insiders Place Their Bets

In other news, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 1,805 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,794 shares of company stock worth $4,866,579. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $99.30 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $102.79. The company has a market cap of $31.41 billion, a PE ratio of 24.28, a PEG ratio of 2.50 and a beta of 0.49. The company’s 50-day moving average is $96.67 and its two-hundred day moving average is $94.77.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.9 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a yield of 3.36%. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

WEC Energy Group Company 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.