WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,539 shares of the utilities provider’s stock after buying an additional 3,342 shares during the quarter. OLD National Bancorp IN’s holdings in WEC Energy Group were worth $7,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Czech National Bank grew its position in shares of WEC Energy Group by 7.0% during the third 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 in the last quarter. Brookstone Capital Management boosted its holdings in WEC Energy Group by 789.0% in the first quarter. Brookstone Capital Management now owns 125,219 shares of the utilities provider’s stock worth $10,283,000 after purchasing an additional 111,134 shares during the period. Empowered Funds LLC boosted its holdings in WEC Energy Group by 139.6% in the first quarter. Empowered Funds LLC now owns 30,792 shares of the utilities provider’s stock worth $2,529,000 after purchasing an additional 17,938 shares during the period. 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 worth $4,489,000 after purchasing an additional 22,478 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in WEC Energy Group by 14.5% in the first quarter. Gateway Investment Advisers LLC now owns 385,323 shares of the utilities provider’s stock worth $31,643,000 after purchasing an additional 48,890 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $99.85 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $94.19 and its two-hundred day moving average price is $86.07. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $99.99. The stock has a market cap of $31.56 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 2.57 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business earned $0.92 earnings per share. WEC Energy Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 77.14%.

Insiders Place Their Bets

In related news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the transaction, the vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the transaction, the vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the transaction, the director now directly owns 21,876 shares in the company, valued at $1,934,932.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on WEC shares. KeyCorp lifted their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Scotiabank lifted their price objective 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. Barclays raised their target price 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. Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets raised their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.00.

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.