Free Trial

Wilmington Savings Fund Society FSB Raises Holdings in WEC Energy Group, Inc. (NYSE:WEC)

WEC Energy Group logo with Utilities background

Wilmington Savings Fund Society FSB grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 238.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,421 shares of the utilities provider's stock after buying an additional 8,751 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in WEC Energy Group were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WEC. Mizuho Securities USA LLC boosted its stake in WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider's stock valued at $2,500,680,000 after acquiring an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP raised its holdings in WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider's stock worth $362,971,000 after purchasing an additional 1,912,223 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider's stock worth $182,765,000 after purchasing an additional 695,317 shares during the period. Finally, American Century Companies Inc. raised its holdings in WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider's stock worth $201,328,000 after purchasing an additional 688,812 shares during the period. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 0.1 %

WEC Energy Group stock traded down $0.12 during mid-day trading on Friday, reaching $95.74. 1,445,143 shares of the company traded hands, compared to its average volume of 1,516,006. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The firm's 50 day moving average price is $97.68 and its 200 day moving average price is $90.46. The firm has a market capitalization of $30.29 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 2.59 and a beta of 0.46. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. On average, analysts anticipate that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.8925 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.73%. WEC Energy Group's dividend payout ratio (DPR) is 81.66%.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the sale, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the sale, the chief executive officer now owns 45,709 shares of the company's stock, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 over the last three months. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on WEC shares. KeyCorp raised their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Barclays lifted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a "hold" rating and a $102.00 price target on the stock. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $97.00 to $104.00 and gave the company a "market perform" rating in a research note on Monday, December 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $96.91.

Get Our Latest Stock Analysis on WEC Energy Group

About WEC Energy Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

→ Kamala’s final humiliation (From Porter & Company) (Ad)

Should you invest $1,000 in WEC Energy Group right now?

Before you consider WEC Energy Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WEC Energy Group wasn't on the list.

While WEC Energy Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Own Before the 2024 Election Cover

Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

This Investment Strategy Has the Highest Payout Potential
Watch These 4 Growth Sectors Thrive in 2025
3 Stocks That Wall Street Insiders Can’t Stop Buying

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines