WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Alley Investment Management Company LLC

Alley Investment Management Company LLC boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 40,767 shares of the utilities provider’s stock after acquiring an additional 689 shares during the period. Alley Investment Management Company LLC’s holdings in WEC Energy Group were worth $3,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank increased its stake in WEC Energy Group by 51.4% during the 2nd quarter. Toronto Dominion Bank now owns 152,064 shares of the utilities provider’s stock worth $11,931,000 after buying an additional 51,603 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of WEC Energy Group by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,436 shares of the utilities provider’s stock worth $4,742,000 after acquiring an additional 22,775 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of WEC Energy Group during the second quarter worth approximately $1,649,000. Sagefield Capital LP raised its stake in WEC Energy Group by 113.4% in the 2nd quarter. Sagefield Capital LP now owns 67,147 shares of the utilities provider’s stock valued at $5,268,000 after purchasing an additional 35,686 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in WEC Energy Group by 6.0% in the 2nd quarter. Bank of Montreal Can now owns 581,335 shares of the utilities provider’s stock valued at $45,612,000 after purchasing an additional 33,102 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 0.7 %

Shares of WEC stock opened at $94.56 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $96.65. The firm has a market cap of $29.89 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. The company has a 50-day moving average of $90.34 and a two-hundred day moving average of $84.15. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. On average, analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 dividend yield of 3.53%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,702 shares of company stock valued at $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WEC shares. Scotiabank upped their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Bank of America increased their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $91.31.

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.