Mather Group LLC. lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,417 shares of the utilities provider’s stock after purchasing an additional 835 shares during the period. Mather Group LLC.’s holdings in WEC Energy Group were worth $746,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Worldquant Millennium Advisors LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter worth $1,410,000. Waratah Capital Advisors Ltd. purchased a new stake in WEC Energy Group in the 2nd quarter worth about $1,122,000. CoreFirst Bank & Trust purchased a new stake in WEC Energy Group in the 2nd quarter worth about $25,000. Northern Oak Wealth Management Inc. increased its holdings in WEC Energy Group by 12.2% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 6,188 shares of the utilities provider’s stock worth $623,000 after acquiring an additional 675 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in WEC Energy Group by 2,080.5% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 16,463 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 15,708 shares during the last quarter. 75.03% of the stock is currently owned by institutional investors.
WEC Energy Group Stock Performance
Shares of WEC opened at $95.73 on Friday. The company has a market cap of $30.20 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 3.54 and a beta of 0.36. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average price of $91.60 and a 200-day moving average price of $97.94. WEC Energy Group, Inc. has a 12-month low of $80.82 and a 12-month high of $108.39.
WEC Energy Group (NYSE:WEC – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.83 billion. WEC Energy Group had a return on equity of 12.13% and a net margin of 14.94%. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 4.4 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Monday, November 14th were given a dividend of $0.7275 per share. The ex-dividend date was Thursday, November 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 3.04%. WEC Energy Group’s dividend payout ratio (DPR) is presently 66.59%.
Insider Activity
In other news, Director Glen E. Tellock bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was bought at an average price of $91.39 per share, for a total transaction of $91,390.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $91,390. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Glen E. Tellock bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was bought at an average price of $91.39 per share, for a total transaction of $91,390.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $91,390. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 950 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $97.59, for a total value of $92,710.50. Following the completion of the sale, the director now owns 21,375 shares of the company’s stock, valued at approximately $2,085,986.25. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on WEC. Guggenheim decreased their price objective on WEC Energy Group from $104.00 to $95.00 in a report on Monday, October 24th. Credit Suisse Group lifted their price objective on WEC Energy Group from $89.00 to $93.00 and gave the stock an “underperform” rating in a report on Thursday, November 3rd. TheStreet lowered WEC Energy Group from a “b” rating to a “c+” rating in a report on Tuesday, November 1st. UBS Group lifted their target price on WEC Energy Group to $103.00 in a report on Monday, November 21st. Finally, Mizuho reduced their target price on WEC Energy Group from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, October 17th. One research analyst has 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.09.
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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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