Strategy Asset Managers LLC Buys 817 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Strategy Asset Managers LLC increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 28.4% in the 3rd quarter, Holdings Channel reports. The firm owned 3,692 shares of the utilities provider’s stock after purchasing an additional 817 shares during the period. Strategy Asset Managers LLC’s holdings in WEC Energy Group were worth $355,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its stake in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth about $29,000. Coastline Trust Co bought a new stake in WEC Energy Group during the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group in the 2nd quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of WEC Energy Group during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 1,805 shares of WEC Energy Group stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 43.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,045 shares of company stock worth $1,038,807 in the last three months. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $99.26 on Thursday. 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 business’s fifty day moving average price is $96.48 and its two-hundred day moving average price is $88.64. 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 capitalization of $31.40 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.69 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion during 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 firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. As a group, analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

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. This represents a $3.34 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is currently 81.66%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WEC. Barclays boosted 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 report on Monday, October 7th. Bank of America upped 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. KeyCorp lifted their target price on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock 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 assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.