Zhang Financial LLC Buys New Position in WEC Energy Group, Inc. (NYSE:WEC)

Zhang Financial LLC bought a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,472 shares of the utilities provider's stock, valued at approximately $719,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of WEC Energy Group by 36.7% in the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider's stock valued at $201,328,000 after acquiring an additional 688,812 shares during the last quarter. Earnest Partners LLC lifted its position in WEC Energy Group by 36.0% in the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider's stock valued at $143,557,000 after purchasing an additional 462,646 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of WEC Energy Group during the first quarter valued at approximately $23,297,000. AMF Tjanstepension AB bought a new position in shares of WEC Energy Group in the second quarter worth approximately $20,431,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of WEC Energy Group by 2,949.7% in the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider's stock worth $18,204,000 after purchasing an additional 224,410 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on 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 sale, the director now owns 21,876 shares of the company's stock, valued at approximately $1,934,932.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mary Beth Straka sold 3,240 shares of the company's stock in a transaction on 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 approximately $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.44% of the stock is owned by insiders.

WEC Energy Group Stock Up 1.6 %

Shares of WEC stock traded up $1.53 during mid-day trading on Wednesday, reaching $98.75. 2,520,919 shares of the company's stock traded hands, compared to its average volume of 2,155,605. The company's 50-day moving average price is $93.53 and its 200-day moving average price is $85.70. The company has a market cap of $31.21 billion, a P/E ratio of 22.67, a P/E/G ratio of 2.48 and a beta of 0.44. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $98.93.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. WEC Energy Group's quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 77.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. 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 target for the company. Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Wells Fargo & Company upped their price target on WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday. KeyCorp lifted their price objective on WEC Energy Group from $98.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Finally, Scotiabank boosted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $94.00.

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.