WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Increased by Metis Global Partners LLC

Metis Global Partners LLC increased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,621 shares of the utilities provider’s stock after purchasing an additional 3,008 shares during the quarter. Metis Global Partners LLC’s holdings in WEC Energy Group were worth $2,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Japan Co. Ltd. increased 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 worth $25,000 after acquiring an additional 118 shares in the last quarter. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group in the second quarter worth approximately $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the second quarter worth approximately $31,000. Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the second quarter worth approximately $36,000. Finally, ESL Trust Services LLC purchased a new position in shares of WEC Energy Group in the first quarter worth approximately $37,000. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $340,712.48. This represents a 46.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This represents a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $97.98 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $31.00 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.44. The company has a 50 day moving average price of $96.15 and a two-hundred day moving average price of $88.15. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business 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 company earned $1.00 earnings per share. WEC Energy Group’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, equities 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 firm also recently declared 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. This represents a $3.34 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays boosted their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Bank of America boosted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Finally, KeyCorp boosted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average 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.