WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Raymond James & Associates

by · The Markets Daily

Raymond James & Associates lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,158,191 shares of the utilities provider’s stock after acquiring an additional 16,588 shares during the quarter. Raymond James & Associates owned about 0.37% of WEC Energy Group worth $93,292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WEC. Fairfield Bush & CO. acquired a new position in WEC Energy Group in the first quarter worth approximately $64,000. Raymond James Trust N.A. grew its position in WEC Energy Group by 19.9% in the first quarter. Raymond James Trust N.A. now owns 6,272 shares of the utilities provider’s stock worth $626,000 after buying an additional 1,040 shares during the last quarter. Dimensional Fund Advisors LP grew its position in WEC Energy Group by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 848,405 shares of the utilities provider’s stock worth $84,682,000 after buying an additional 65,287 shares during the last quarter. Allianz Asset Management GmbH grew its position in WEC Energy Group by 10.2% in the first quarter. Allianz Asset Management GmbH now owns 34,679 shares of the utilities provider’s stock worth $3,461,000 after buying an additional 3,224 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in WEC Energy Group by 11.8% in the first quarter. Cetera Investment Advisers now owns 8,765 shares of the utilities provider’s stock worth $875,000 after buying an additional 923 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Wall Street Analyst Weigh In

WEC has been the topic of several recent research reports. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Royal Bank of Canada started coverage on shares of WEC Energy Group in a research note on Wednesday, September 27th. They set a “sector perform” rating and a $95.00 target price for the company. Mizuho cut their price target on shares of WEC Energy Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, December 18th. Guggenheim cut their price target on shares of WEC Energy Group from $94.00 to $84.00 in a report on Monday, October 9th. Finally, UBS Group dropped their target price on shares of WEC Energy Group from $87.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.58.

Check Out Our Latest Report on WEC Energy Group

WEC Energy Group Price Performance

NYSE:WEC opened at $86.62 on Thursday. The firm has a market cap of $27.32 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.98 and a beta of 0.42. WEC Energy Group, Inc. has a 12 month low of $75.47 and a 12 month high of $99.26. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $82.92 and its two-hundred day moving average price is $84.94.

WEC Energy Group (NYSE:WEC – Get Free Report) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. WEC Energy Group had a net margin of 14.80% and a return on equity of 11.48%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 4.62 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Tuesday, February 13th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.78. WEC Energy Group’s dividend payout ratio is 72.06%.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 600 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $83.46, for a total transaction of $50,076.00. Following the completion of the transaction, the director now owns 20,933 shares in the company, valued at $1,747,068.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Profile

(Free Report)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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