WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,647 shares of the utilities provider’s stock after acquiring an additional 260 shares during the quarter. Raleigh Capital Management Inc.’s holdings in WEC Energy Group were worth $625,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC grew its holdings in WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after acquiring an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after purchasing an additional 699,177 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after buying an additional 4,691,017 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 102.6% during the third 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 during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. 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 three months. 0.34% of the stock is owned by insiders.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $97.66 on Thursday. The business has a 50 day simple moving average of $96.71 and a 200-day simple moving average of $93.60. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79. The company has a market capitalization of $30.90 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.54 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Cuts 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 issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WEC shares. KeyCorp boosted their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased 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. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $98.40.

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.