Cobblestone Capital Advisors LLC NY Buys New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Cobblestone Capital Advisors LLC NY purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 2,637 shares of the utilities provider’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Global X Japan Co. Ltd. increased its stake in 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 valued at $25,000 after acquiring an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at approximately $29,000. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the 3rd quarter worth approximately $29,000. William B. Walkup & Associates Inc. bought a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at $36,000. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 in the last quarter. 0.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WEC shares. Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. Finally, Barclays increased their price target on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Stock Down 0.8 %

NYSE:WEC opened at $101.05 on Monday. The company has a market cap of $31.97 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 2.75 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The stock’s fifty day moving average price is $97.33 and its two-hundred day moving average price is $89.49. 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) last issued its quarterly 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 analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’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 firm posted $1.00 earnings per share. On average, 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 announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th were paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

WEC Energy Group 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.