WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 43.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,489 shares of the utilities provider’s stock after purchasing an additional 1,367 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in WEC Energy Group were worth $432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its position in shares of WEC Energy Group by 58.1% during the 2nd 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 last quarter. Olistico Wealth LLC acquired a new position in WEC Energy Group in the 2nd quarter valued at about $29,000. Coastline Trust Co acquired a new position in WEC Energy Group in the 3rd quarter valued at about $29,000. William B. Walkup & Associates Inc. acquired a new position in WEC Energy Group in the 2nd quarter valued at about $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the 2nd quarter valued at about $36,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,045 shares of company stock worth $1,038,807. 0.44% of the stock is owned by insiders.

WEC Energy Group Price Performance

WEC stock opened at $99.26 on Thursday. The business has a 50 day moving average price of $96.48 and a 200 day moving average price of $88.64. The stock has a market cap of $31.40 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.70 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 yield of 3.36%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. BMO Capital Markets lifted their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their target price on 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 boosted 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. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Company 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.