Dark Forest Capital Management LP Makes New $205,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Dark Forest Capital Management LP purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,615 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WEC. Drucker Wealth 3.0 LLC acquired a new position in WEC Energy Group during the 2nd quarter valued at about $1,539,000. Earnest Partners LLC boosted its holdings in shares of WEC Energy Group by 11.8% in the second quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after acquiring an additional 206,637 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of WEC Energy Group by 2.9% during the second quarter. AQR Capital Management LLC now owns 316,319 shares of the utilities provider’s stock valued at $24,746,000 after acquiring an additional 8,896 shares during the period. Alley Investment Management Company LLC raised its holdings in WEC Energy Group by 1.7% during the second quarter. Alley Investment Management Company LLC now owns 40,767 shares of the utilities provider’s stock worth $3,199,000 after purchasing an additional 689 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in WEC Energy Group by 51.4% in the second quarter. Toronto Dominion Bank now owns 152,064 shares of the utilities provider’s stock worth $11,931,000 after purchasing an additional 51,603 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Up 1.0 %

WEC Energy Group stock opened at $96.18 on Tuesday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $96.65. 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 firm has a market capitalization of $30.40 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 2.45 and a beta of 0.44. The company has a 50 day moving average price of $91.40 and a 200 day moving average price of $84.55.

WEC Energy Group (NYSE:WEC) last issued its 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. The business had revenue of $1.77 billion during 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%. WEC Energy Group’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.47%. WEC Energy Group’s dividend payout ratio is 72.93%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp boosted their price objective on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Scotiabank raised 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. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.69.

Insider Transactions at WEC Energy Group

In related news, VP William J. Guc sold 6,000 shares of the business’s 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 transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were 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 owns 21,876 shares in the company, valued at approximately $1,934,932.20. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock valued at $1,078,058 over the last three months. 0.34% of the stock is owned by corporate insiders.

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.