WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,939 shares of the utilities provider’s stock after buying an additional 549 shares during the period. IHT Wealth Management LLC’s holdings in WEC Energy Group were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mizuho Securities USA LLC raised its holdings in WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in WEC Energy Group by 102.6% during the 3rd 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 in the last quarter. American Century Companies Inc. grew its position 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 worth $201,328,000 after purchasing an additional 688,812 shares in the last quarter. Earnest Partners LLC grew its position in WEC Energy Group by 11.8% during the 2nd quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock worth $153,372,000 after purchasing an additional 206,637 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in WEC Energy Group by 57.7% during the 3rd 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 in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares in the company, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the transaction, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,794 shares of company stock worth $4,866,579 over the last quarter. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Trading Down 0.6 %

NYSE:WEC opened at $97.09 on Friday. The firm’s fifty day moving average is $97.63 and its 200-day moving average is $89.80. 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, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The firm has a market cap of $30.71 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.67 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate 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 was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 earnings per share. Equities analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Friday, February 14th. This represents a $3.57 annualized dividend and a yield of 3.68%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several research analyst reports. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. KeyCorp upped their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research report on Monday, December 2nd. Barclays upped their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company upped 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.55.

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.