Raleigh Capital Management Inc. Purchases 6,362 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Raleigh Capital Management Inc. lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 25,448.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,387 shares of the utilities provider's stock after purchasing an additional 6,362 shares during the quarter. Raleigh Capital Management Inc.'s holdings in WEC Energy Group were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WEC. Global X Japan Co. Ltd. lifted its holdings in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider's stock valued at $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in WEC Energy Group in the second quarter worth about $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $31,000. FinTrust Capital Advisors LLC increased its position in shares of WEC Energy Group by 52.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Finally, ESL Trust Services LLC bought a new position in shares of WEC Energy Group in the 1st quarter worth approximately $37,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

Shares of WEC stock traded down $0.74 during trading hours on Tuesday, hitting $98.69. The stock had a trading volume of 1,520,427 shares, compared to its average volume of 2,149,285. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The stock has a market capitalization of $31.17 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.57 and a beta of 0.44. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $100.31. The stock's 50-day moving average price is $94.58 and its two-hundred day moving average price is $86.33.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating 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%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities 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 will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.38%. WEC Energy Group's dividend payout ratio (DPR) is presently 72.93%.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Anthony Reese sold 1,362 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares of the company's stock, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets raised their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a "market perform" rating in a report on Friday, August 23rd. Barclays lifted their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. 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 research report on Tuesday, August 20th. Finally, 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. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $94.45.

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.