Red Cedar Investment Management LLC Purchases 15,114 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Red Cedar Investment Management LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 389.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,993 shares of the utilities provider’s stock after acquiring an additional 15,114 shares during the period. Red Cedar Investment Management LLC’s holdings in WEC Energy Group were worth $1,827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of WEC Energy Group by 36.7% during the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after buying an additional 688,812 shares during the period. Earnest Partners LLC increased its position in shares of WEC Energy Group by 36.0% during the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $143,557,000 after buying an additional 462,646 shares during the period. Assenagon Asset Management S.A. increased its position in shares of WEC Energy Group by 151.7% during the third quarter. Assenagon Asset Management S.A. now owns 583,990 shares of the utilities provider’s stock valued at $56,168,000 after buying an additional 351,972 shares during the period. International Assets Investment Management LLC grew its holdings in shares of WEC Energy Group by 10,220.1% during the third quarter. International Assets Investment Management LLC now owns 303,515 shares of the utilities provider’s stock worth $29,192,000 after purchasing an additional 300,574 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of WEC Energy Group during the first quarter worth about $23,297,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WEC. Jefferies Financial Group began coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Bank of America boosted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank upped their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their target price on 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, Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.45.

WEC Energy Group Stock Down 0.8 %

Shares of NYSE WEC traded down $0.76 during trading on Monday, reaching $94.81. The company had a trading volume of 440,195 shares, compared to its average volume of 2,145,240. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The stock has a market cap of $29.97 billion, a PE ratio of 23.37, a P/E/G ratio of 2.46 and a beta of 0.44. The business’s 50-day moving average is $95.55 and its 200 day moving average is $87.30. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the firm posted $1.00 earnings per share. WEC Energy Group’s revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.52%. WEC Energy Group’s payout ratio is 81.66%.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at $129,796.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the transaction, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,352 shares of company stock valued at $1,046,645. 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.