Atria Investments Inc boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,873 shares of the utilities provider's stock after purchasing an additional 7,646 shares during the period. Atria Investments Inc's holdings in WEC Energy Group were worth $6,047,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Assetmark Inc. grew its position in WEC Energy Group by 26.5% in the third quarter. Assetmark Inc. now owns 34,998 shares of the utilities provider's stock valued at $3,366,000 after purchasing an additional 7,335 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of WEC Energy Group during the 3rd quarter worth about $532,000. SpiderRock Advisors LLC raised its stake in WEC Energy Group by 195.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 20,319 shares of the utilities provider's stock worth $1,954,000 after purchasing an additional 13,452 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of WEC Energy Group during the third quarter worth $258,000. Finally, Leavell Investment Management Inc. increased its holdings in shares of WEC Energy Group by 1.0% during the third 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 in the last quarter. Institutional investors own 77.20% of the company's stock.
WEC Energy Group Stock Performance
WEC traded down $0.85 on Tuesday, hitting $97.85. The company's stock had a trading volume of 1,819,729 shares, compared to its average volume of 2,160,124. The company's 50 day simple moving average is $95.98 and its 200-day simple moving average is $87.92. The firm has a market cap of $30.96 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31. 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 (NYSE:WEC - Get Free Report) last issued its 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 company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter last year, the company earned $1.00 EPS. The firm's revenue was down 4.8% compared to the same quarter last year. 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 disclosed 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 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's payout ratio is currently 81.66%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on WEC shares. Scotiabank upped their price target 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 upped their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a "hold" rating and a $102.00 price objective on the stock. BMO Capital Markets upped their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a "market perform" rating in a report on Friday, August 23rd. Finally, 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 research note on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.45.
Get Our Latest Report on WEC Energy Group
Insider Buying and Selling
In other news, VP William J. Guc sold 6,000 shares of the company'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 value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the company'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 completion of the sale, the vice president now directly owns 7,702 shares of the company's stock, valued at approximately $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the company'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 sale, the vice president now directly owns 3,662 shares of the company's stock, valued at approximately $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.
About WEC Energy Group
(
Free Report)
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.
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