WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 46,964 shares of the utilities provider’s stock after purchasing an additional 742 shares during the period. Kingsview Wealth Management LLC’s holdings in WEC Energy Group were worth $4,517,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WEC. Czech National Bank grew its stake in shares of WEC Energy Group by 7.0% in 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. Assenagon Asset Management S.A. grew its stake in shares of WEC Energy Group by 2,949.7% in the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock worth $18,204,000 after acquiring an additional 224,410 shares in the last quarter. Atria Investments Inc grew its stake in shares of WEC Energy Group by 13.8% in the third quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider’s stock worth $6,047,000 after acquiring an additional 7,646 shares in the last quarter. RFG Advisory LLC grew its stake in shares of WEC Energy Group by 35.0% in the second quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock worth $2,310,000 after acquiring an additional 7,640 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of WEC Energy Group by 359.5% in the first quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock worth $9,453,000 after acquiring an additional 90,062 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.3 %

Shares of WEC Energy Group stock opened at $100.66 on Friday. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-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. The company’s 50-day simple moving average is $96.69 and its 200-day simple moving average is $88.88. The firm has a market cap of $31.84 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.73 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $1.00 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently announced 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 of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.32%. WEC Energy Group’s payout ratio is currently 81.66%.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total transaction of $179,417.00. Following the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at $716,208.98. The trade was a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,314 shares of company stock worth $5,047,988. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WEC has been the subject of several recent analyst reports. Scotiabank lifted their price objective 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. 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 price objective for the company. KeyCorp lifted their price objective 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 lifted their price objective 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, BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Three research 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 currently has a consensus rating of “Hold” and a consensus 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.