WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 102.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,776,071 shares of the utilities provider’s stock after acquiring an additional 1,912,223 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.19% of WEC Energy Group worth $362,971,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in shares of WEC Energy Group by 58.1% in the second 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 during the last quarter. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $29,000. Coastline Trust Co purchased a new stake in WEC Energy Group in the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group during the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in WEC Energy Group during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.3 %

Shares of WEC stock opened at $100.66 on Friday. The stock has a 50-day simple moving average of $96.69 and a 200 day simple moving average of $88.85. The stock has a market capitalization of $31.84 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.74 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 $101.43. 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 quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, sell-side analysts expect 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 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. This represents a $3.34 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is presently 81.66%.

Analysts Set New Price Targets

Several equities analysts recently commented on WEC shares. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. BMO Capital Markets upped 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 research note on Friday, August 23rd. KeyCorp raised their target price 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. Bank of America upped their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Scotiabank increased their price target on shares of 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. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.45.

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. The trade was a 12.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,314 shares of company stock worth $5,047,988 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.