Oppenheimer Asset Management Inc. Purchases 871 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Oppenheimer Asset Management Inc. increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,440 shares of the utilities provider’s stock after buying an additional 871 shares during the period. Oppenheimer Asset Management Inc.’s holdings in WEC Energy Group were worth $1,966,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Global X Japan Co. Ltd. grew its position in shares of WEC Energy Group by 58.1% during the second 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 in the last quarter. Olistico Wealth LLC purchased a new stake in WEC Energy Group during the 2nd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the second quarter valued at approximately $31,000. Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the second quarter worth $36,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of WEC Energy Group during the second quarter worth $38,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity

In other WEC Energy Group news, 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 completion of the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 43.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction 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 transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The trade was a 46.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on WEC shares. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. Barclays increased their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. BMO Capital Markets increased 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. Finally, Scotiabank boosted 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 report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.45.

WEC Energy Group Trading Up 1.9 %

WEC opened at $97.98 on Friday. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $100.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 2.61 and a beta of 0.44. The stock’s 50 day moving average price is $96.24 and its 200-day moving average price is $88.26.

WEC Energy Group (NYSE:WEC) last released its earnings results 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. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 dividend yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

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.