Norris Perne & French LLP MI Buys New Position in WEC Energy Group, Inc. (NYSE:WEC)

Norris Perne & French LLP MI purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,542 shares of the utilities provider’s stock, valued at approximately $244,000.

Several other hedge funds have also made changes to their positions in WEC. Czech National Bank increased its stake in WEC Energy Group by 7.0% during the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock worth $6,193,000 after buying an additional 4,205 shares during the period. Empowered Funds LLC raised its stake in shares of WEC Energy Group by 139.6% in the first quarter. Empowered Funds LLC now owns 30,792 shares of the utilities provider’s stock valued at $2,529,000 after acquiring an additional 17,938 shares in the last quarter. Duality Advisers LP boosted its holdings in WEC Energy Group by 69.8% in the first quarter. Duality Advisers LP now owns 54,659 shares of the utilities provider’s stock valued at $4,489,000 after purchasing an additional 22,478 shares during the period. Intech Investment Management LLC grew its stake in WEC Energy Group by 335.4% during the 1st quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock worth $4,442,000 after purchasing an additional 41,668 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in WEC Energy Group by 20.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 423,718 shares of the utilities provider’s stock worth $34,796,000 after purchasing an additional 71,439 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.6 %

Shares of WEC Energy Group stock opened at $95.48 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company has a market capitalization of $30.18 billion, a P/E ratio of 22.05, a PEG ratio of 2.47 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $100.31. The company’s fifty day moving average is $95.49 and its two-hundred day moving average is $87.07.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. Analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 77.14%.

Insider Buying and Selling

In other news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now owns 1,462 shares of the company’s stock, valued at $129,796.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. This represents a 0.00 % 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 Anthony Reese sold 1,362 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock valued at $1,078,058 over the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEC. Bank of America boosted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Barclays raised their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.45.

About WEC Energy Group

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.