Premier Fund Managers Ltd Has $3.14 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Premier Fund Managers Ltd increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 37.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the utilities provider’s stock after purchasing an additional 9,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in WEC Energy Group were worth $3,143,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of WEC Energy Group during the 3rd quarter worth about $12,436,000. Fifth Third Wealth Advisors LLC raised its position in WEC Energy Group by 43.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,489 shares of the utilities provider’s stock worth $432,000 after purchasing an additional 1,367 shares in the last quarter. Wrapmanager Inc. bought a new position in WEC Energy Group during the third quarter worth about $293,000. Meeder Advisory Services Inc. boosted its holdings in WEC Energy Group by 11.4% during the third quarter. Meeder Advisory Services Inc. now owns 7,319 shares of the utilities provider’s stock valued at $704,000 after purchasing an additional 750 shares in the last quarter. Finally, Braun Stacey Associates Inc. grew its stake in shares of WEC Energy Group by 5,348.3% in the 3rd quarter. Braun Stacey Associates Inc. now owns 238,690 shares of the utilities provider’s stock valued at $22,957,000 after purchasing an additional 234,309 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their target price 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. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price for the company. Finally, KeyCorp lifted their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Trading Down 0.2 %

WEC opened at $99.05 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31. The stock has a market capitalization of $31.33 billion, a PE 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 firm has a 50-day moving average price of $96.40 and a two-hundred day moving average price of $88.56.

WEC Energy Group (NYSE:WEC) last issued its quarterly 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. 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 analyst estimates of $1.93 billion. During the same quarter last year, the business posted $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 anticipate 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 declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is 81.66%.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $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.

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.