Norris Perne & French LLP MI Purchases Shares of 2,542 WEC Energy Group, Inc. (NYSE:WEC)

Norris Perne & French LLP MI acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,542 shares of the utilities provider’s stock, valued at approximately $244,000.

Several other institutional investors have also recently modified their holdings of WEC. Diversified Trust Co lifted its position in WEC Energy Group by 2.7% during the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 134 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of WEC Energy Group by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 34,210 shares of the utilities provider’s stock valued at $2,809,000 after buying an additional 145 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of WEC Energy Group by 9.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 26,278 shares of the utilities provider’s stock worth $2,158,000 after buying an additional 2,185 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of WEC Energy Group by 39.3% in the first quarter. Van ECK Associates Corp now owns 106,126 shares of the utilities provider’s stock worth $8,715,000 after buying an additional 29,928 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in WEC Energy Group during the first quarter worth about $474,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on WEC shares. Barclays upped their price objective 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. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. KeyCorp upped their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Bank of America raised their target price 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. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $95.48 on Friday. The stock has a market capitalization of $30.18 billion, a P/E ratio of 22.05, a PEG ratio of 2.47 and a beta of 0.44. The business has a 50 day simple moving average of $95.49 and a two-hundred day simple moving average of $87.07. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.50%. WEC Energy Group’s payout ratio is 77.14%.

Insiders Place Their Bets

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,702 shares of company stock valued at $1,078,058. Insiders own 0.34% of the company’s stock.

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.