SG Americas Securities LLC lifted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 21.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,962 shares of the utilities provider’s stock after acquiring an additional 12,750 shares during the period. SG Americas Securities LLC’s holdings in WEC Energy Group were worth $6,939,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of WEC. Magellan Asset Management Ltd increased its position in shares of WEC Energy Group by 456.9% during the second quarter. Magellan Asset Management Ltd now owns 6,826,069 shares of the utilities provider’s stock worth $569,089,000 after acquiring an additional 5,600,357 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in WEC Energy Group by 35,386.3% during the second quarter. Nuveen Asset Management LLC now owns 3,047,564 shares of the utilities provider’s stock worth $254,076,000 after purchasing an additional 3,038,976 shares during the last quarter. Scout Investments Inc. boosted its holdings in WEC Energy Group by 84.9% during the second quarter. Scout Investments Inc. now owns 1,692,263 shares of the utilities provider’s stock worth $141,084,000 after purchasing an additional 777,086 shares during the last quarter. Vanguard Group Inc. boosted its holdings in WEC Energy Group by 1.7% during the second quarter. Vanguard Group Inc. now owns 39,434,643 shares of the utilities provider’s stock worth $3,287,666,000 after purchasing an additional 659,769 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in WEC Energy Group by 2.0% during the second quarter. BlackRock Inc. now owns 28,158,196 shares of the utilities provider’s stock worth $2,347,547,000 after purchasing an additional 550,839 shares during the last quarter. 76.87% of the stock is owned by institutional investors.
Several research analysts recently weighed in on WEC shares. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Monday, September 16th. Wells Fargo & Co boosted their price target on shares of WEC Energy Group from $93.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. started coverage on shares of WEC Energy Group in a report on Tuesday, October 8th. They set a “neutral” rating and a $99.00 price target on the stock. Citigroup boosted their price target on shares of WEC Energy Group from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Credit Suisse Group cut shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and boosted 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. WEC Energy Group has a consensus rating of “Hold” and an average price target of $86.50.
WEC traded down $1.04 during midday trading on Friday, reaching $87.83. The company had a trading volume of 2,267,914 shares, compared to its average volume of 1,694,081. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market cap of $28.70 billion, a PE ratio of 26.30, a P/E/G ratio of 4.18 and a beta of -0.01. WEC Energy Group Inc has a 12-month low of $66.75 and a 12-month high of $98.19. The business has a 50-day moving average price of $93.66 and a two-hundred day moving average price of $87.58.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. On average, research analysts anticipate that WEC Energy Group Inc will post 3.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, November 13th. WEC Energy Group’s payout ratio is 70.66%.
In related news, Director Barbara L. Bowles sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $89.73, for a total transaction of $89,730.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mary Beth Straka sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $97.69, for a total transaction of $341,915.00. Following the sale, the vice president now owns 5,252 shares in the company, valued at $513,067.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,615 shares of company stock worth $15,163,723. Corporate insiders own 0.75% of the company’s stock.
About WEC Energy Group
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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