SpiderRock Advisors LLC Boosts Position in WEC Energy Group, Inc. (NYSE:WEC)

SpiderRock Advisors LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 195.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,319 shares of the utilities provider's stock after purchasing an additional 13,452 shares during the quarter. SpiderRock Advisors LLC's holdings in WEC Energy Group were worth $1,954,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. CWA Asset Management Group LLC bought a new stake in WEC Energy Group during the 3rd quarter worth approximately $258,000. Leavell Investment Management Inc. boosted its position in WEC Energy Group by 1.0% during the 3rd quarter. Leavell Investment Management Inc. now owns 29,888 shares of the utilities provider's stock worth $2,875,000 after acquiring an additional 286 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC acquired a new position in WEC Energy Group during the 3rd quarter worth approximately $293,000. Centennial Wealth Advisory LLC boosted its position in WEC Energy Group by 6.4% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 3,671 shares of the utilities provider's stock worth $353,000 after acquiring an additional 221 shares during the last quarter. Finally, Capital Management Corp VA acquired a new position in WEC Energy Group during the 3rd quarter worth approximately $212,000. 77.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WEC has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Bank of America lifted their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Friday, November 1st. 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 note on Tuesday, August 20th. Finally, KeyCorp boosted their target price on WEC Energy Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and a consensus price target of $94.45.

WEC Energy Group Stock Up 2.4 %

Shares of NYSE WEC traded up $2.26 during mid-day trading on Friday, hitting $97.59. 2,485,149 shares of the stock traded hands, compared to its average volume of 2,177,856. The stock has a fifty day moving average price of $95.87 and a 200-day moving average price of $87.77. The company has a market cap of $30.87 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.51 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm's quarterly revenue was down 4.8% compared to the same quarter last year. Research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's dividend payout ratio is currently 81.66%.

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The trade was 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 this link. In related news, VP Mary Beth Straka sold 3,240 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William J. Guc sold 6,000 shares of the company's stock in a transaction 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 sale, the vice president now owns 7,702 shares of the company's stock, valued at approximately $716,208.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

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.