Townsquare Capital LLC Has $11.19 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Townsquare Capital LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,317 shares of the utilities provider’s stock after purchasing an additional 7,731 shares during the quarter. Townsquare Capital LLC’s holdings in WEC Energy Group were worth $11,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its holdings in WEC Energy Group by 2.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,876 shares of the utilities provider’s stock valued at $554,000 after buying an additional 142 shares in the last quarter. Comerica Bank raised its stake in shares of WEC Energy Group by 1.1% in the 1st quarter. Comerica Bank now owns 98,183 shares of the utilities provider’s stock valued at $8,063,000 after acquiring an additional 1,093 shares in the last quarter. Cetera Investment Advisers lifted its holdings in WEC Energy Group by 359.5% in the 1st quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock worth $9,453,000 after purchasing an additional 90,062 shares during the last quarter. Cetera Advisors LLC boosted its position in WEC Energy Group by 76.7% during the first quarter. Cetera Advisors LLC now owns 28,740 shares of the utilities provider’s stock worth $2,360,000 after purchasing an additional 12,471 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in WEC Energy Group by 49.4% during the first quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 owns 273,248 shares in the company, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,034 shares of company stock worth $5,168,029. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Trading Up 0.3 %

WEC opened at $101.83 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $32.21 billion, a PE ratio of 24.90, a PEG ratio of 2.76 and a beta of 0.44. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The firm has a 50-day moving average price of $97.05 and a two-hundred day moving average price of $89.22.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm 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 company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed 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. This represents a $3.34 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is presently 81.66%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. 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 report on Wednesday, October 16th. BMO Capital Markets raised their price target on 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. Scotiabank boosted their price objective on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, 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. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.45.

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.