Richard C. Young & CO. LTD. Has $3.68 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Richard C. Young & CO. LTD. decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,274 shares of the utilities provider’s stock after selling 1,058 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in WEC Energy Group were worth $3,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank raised its position in WEC Energy Group by 7.0% during the third quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock worth $6,193,000 after acquiring an additional 4,205 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of WEC Energy Group by 19.4% during the 1st quarter. Russell Investments Group Ltd. now owns 109,421 shares of the utilities provider’s stock worth $8,985,000 after purchasing an additional 17,807 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of WEC Energy Group by 2,949.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock valued at $18,204,000 after purchasing an additional 224,410 shares during the period. RFG Advisory LLC lifted its stake in WEC Energy Group by 35.0% in the 2nd quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock valued at $2,310,000 after purchasing an additional 7,640 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in WEC Energy Group by 13.8% during the third quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider’s stock worth $6,047,000 after purchasing an additional 7,646 shares during the period. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Scotiabank raised their target price 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. Barclays upped their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised their price objective 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. Three 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, the company presently has an average rating of “Hold” and an average target price of $94.45.

Insiders Place Their Bets

In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction 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 directly owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction dated 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 owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 43.79 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $97.98 on Monday. The business has a fifty day moving average price of $96.24 and a two-hundred day moving average price of $88.34. The stock has a market capitalization of $31.00 billion, a PE ratio of 23.96, a P/E/G ratio of 2.66 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. WEC Energy Group’s revenue for the quarter was down 4.8% compared to the same quarter last year. 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 Announces Dividend

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 given a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.41%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

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.