Patrick M Sweeney & Associates Inc. Purchases Shares of 2,352 WEC Energy Group, Inc. (NYSE:WEC)

Patrick M Sweeney & Associates Inc. acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,352 shares of the utilities provider’s stock, valued at approximately $226,000.

Several other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of WEC Energy Group by 5.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock worth $216,000 after acquiring an additional 111 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in WEC Energy Group by 2.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 117 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. Drake & Associates LLC boosted its stake in WEC Energy Group by 2.0% during the 3rd quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock worth $598,000 after purchasing an additional 120 shares during the last quarter. Finally, Park National Corp OH grew its holdings in shares of WEC Energy Group by 3.4% during the third quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after buying an additional 130 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Up 0.9 %

Shares of WEC opened at $99.53 on Thursday. The company’s 50-day moving average price is $94.78 and its 200 day moving average price is $86.43. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The firm has a market cap of $31.46 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 2.54 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business earned $0.92 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.36%. WEC Energy Group’s dividend payout ratio is currently 77.14%.

Analyst Ratings Changes

Several research firms have recently weighed in on WEC. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. BMO Capital Markets boosted their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Scotiabank raised their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.