Wrapmanager Inc. Acquires Shares of 3,050 WEC Energy Group, Inc. (NYSE:WEC)

Wrapmanager Inc. bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,050 shares of the utilities provider’s stock, valued at approximately $293,000.

A number of other hedge funds also recently modified their holdings of WEC. Coastline Trust Co acquired a new stake in WEC Energy Group during the third quarter worth approximately $29,000. Global X Japan Co. Ltd. increased its stake in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC acquired a new stake in WEC Energy Group during the 2nd quarter worth approximately $29,000. William B. Walkup & Associates Inc. bought a new stake in WEC Energy Group in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

WEC has been the subject of several analyst reports. Jefferies Financial Group started 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 objective for the company. Wells Fargo & Company lifted their price target 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 increased their price target 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. KeyCorp lifted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $94.45.

WEC Energy Group Trading Down 0.2 %

WEC opened at $99.05 on Wednesday. The company has a market cap of $31.33 billion, a P/E ratio of 24.22, a PEG ratio of 2.70 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $96.40 and its 200-day moving average is $88.56. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31.

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, beating analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. Equities research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.37%. WEC Energy Group’s payout ratio is presently 81.66%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 43.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The trade was a 46.94 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

About WEC Energy Group

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.