CWA Asset Management Group LLC Purchases Shares of 2,684 WEC Energy Group, Inc. (NYSE:WEC)

CWA Asset Management Group LLC acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,684 shares of the utilities provider’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Leavell Investment Management Inc. boosted its holdings in WEC Energy Group by 1.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 29,888 shares of the utilities provider’s stock worth $2,875,000 after buying an additional 286 shares during the period. Blake Schutter Theil Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the third quarter valued at about $293,000. Centennial Wealth Advisory LLC boosted its stake in shares of WEC Energy Group by 6.4% in the third quarter. Centennial Wealth Advisory LLC now owns 3,671 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 221 shares during the period. Capital Management Corp VA bought a new stake in WEC Energy Group during the 3rd quarter valued at approximately $212,000. Finally, Red Cedar Investment Management LLC lifted its holdings in WEC Energy Group by 389.6% in the 3rd quarter. Red Cedar Investment Management LLC now owns 18,993 shares of the utilities provider’s stock worth $1,827,000 after purchasing an additional 15,114 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEC has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. KeyCorp boosted their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their target price on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Stock Down 0.9 %

NYSE WEC opened at $97.85 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.51 and a beta of 0.44. The company has a fifty day moving average of $95.98 and a two-hundred day moving average of $87.92.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Activity at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

WEC Energy Group 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.