WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Premier Fund Managers Ltd

Premier Fund Managers Ltd grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 37.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,000 shares of the utilities provider's stock after buying an additional 9,000 shares during the period. Premier Fund Managers Ltd's holdings in WEC Energy Group were worth $3,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Global X Japan Co. Ltd. lifted its stake in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider's stock worth $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at $29,000. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the 3rd quarter valued at $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in WEC Energy Group during the 2nd quarter worth $36,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

NYSE WEC traded down $0.09 during trading hours on Wednesday, reaching $98.96. The company's stock had a trading volume of 314,487 shares, compared to its average volume of 2,146,380. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The company's 50-day moving average is $96.40 and its two-hundred day moving average is $88.56. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The stock has a market cap of $31.31 billion, a PE ratio of 24.22, a PEG ratio of 2.70 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share 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 business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same period last year, the company posted $1.00 EPS. The company's revenue was down 4.8% on a year-over-year basis. Analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's payout ratio is currently 81.66%.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction 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. This represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the firm's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now directly owns 7,702 shares in the company, valued at approximately $716,208.98. The trade was a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WEC has been the subject of several research analyst reports. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an "underperform" rating in a report on Thursday, August 29th. Jefferies Financial Group assumed 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. Barclays upped their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, Scotiabank boosted their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $94.45.

About WEC Energy Group

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.