True Vision MN LLC Takes $288,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

True Vision MN LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,999 shares of the utilities provider’s stock, valued at approximately $288,000.

Other large investors also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its stake in shares of WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after buying an additional 1,912,223 shares in the last quarter. American Century Companies Inc. raised its holdings 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 acquiring an additional 688,812 shares during the last quarter. Earnest Partners LLC lifted its position in shares of WEC Energy Group by 11.8% in the second quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after acquiring an additional 206,637 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of WEC Energy Group by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock worth $139,889,000 after acquiring an additional 61,019 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was 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 owns 45,709 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 52,034 shares of company stock worth $5,168,029. 0.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group initiated coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. Bank of America increased their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, KeyCorp boosted their target price on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Three equities 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 MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Trading Up 0.4 %

Shares of WEC stock traded up $0.43 during trading on Wednesday, hitting $101.98. 48,135 shares of the stock traded hands, compared to its average volume of 2,135,990. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.25. The firm has a market capitalization of $32.26 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.75 and a beta of 0.44. The firm’s fifty day moving average price is $96.92 and its 200-day moving average price is $89.14. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. As a group, research 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 business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is 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.