Sagefield Capital LP Purchases 35,686 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Sagefield Capital LP boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 113.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 67,147 shares of the utilities provider’s stock after acquiring an additional 35,686 shares during the quarter. Sagefield Capital LP’s holdings in WEC Energy Group were worth $5,268,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group in the fourth quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the first quarter worth about $25,000. Global X Japan Co. Ltd. increased 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 valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC bought a new position in WEC Energy Group during the 2nd quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WEC shares. Scotiabank boosted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp upped their price objective on shares of WEC Energy Group from $95.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $91.31.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $95.18 on Tuesday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $96.65. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $30.06 billion, a P/E ratio of 20.78, a PEG ratio of 2.47 and a beta of 0.44. The stock’s 50 day moving average is $90.07 and its 200 day moving average is $84.06.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.51%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

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.