WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 389.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,993 shares of the utilities provider's stock after purchasing an additional 15,114 shares during the quarter. Red Cedar Investment Management LLC's holdings in WEC Energy Group were worth $1,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WEC. American Century Companies Inc. lifted its stake in WEC Energy Group by 36.7% during 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 period. Earnest Partners LLC boosted its holdings 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. Assenagon Asset Management S.A. raised its stake in shares of WEC Energy Group by 151.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 583,990 shares of the utilities provider's stock valued at $56,168,000 after buying an additional 351,972 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of WEC Energy Group by 10,220.1% in the third quarter. International Assets Investment Management LLC now owns 303,515 shares of the utilities provider's stock worth $29,192,000 after buying an additional 300,574 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in WEC Energy Group during the first quarter worth about $23,297,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the business'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 sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred 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 transaction, the director now owns 21,876 shares of the company's stock, valued at $1,934,932.20. This represents 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 have sold 11,352 shares of company stock valued at $1,046,645. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WEC. Bank of America increased their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. Barclays increased their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Friday. Jefferies Financial Group started coverage on WEC Energy Group in a research report on Thursday, September 19th. They set a "hold" rating and a $102.00 price target on the stock. Finally, BMO Capital Markets boosted their price objective on 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $94.45.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $0.66 on Monday, reaching $94.91. The company's stock had a trading volume of 2,499,631 shares, compared to its average volume of 2,154,912. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31. The stock has a market capitalization of $30.00 billion, a P/E ratio of 23.21, a PEG ratio of 2.46 and a beta of 0.44. The stock's 50-day moving average is $95.59 and its two-hundred day moving average is $87.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. WEC Energy Group's quarterly revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's dividend payout ratio is currently 81.66%.

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.