CWA Asset Management Group LLC Invests $258,000 in WEC Energy Group, Inc. (NYSE:WEC)

CWA Asset Management Group LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,684 shares of the utilities provider’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEC. Leavell Investment Management Inc. boosted its stake in shares of WEC Energy Group by 1.0% during the 3rd quarter. Leavell Investment Management Inc. now owns 29,888 shares of the utilities provider’s stock valued at $2,875,000 after purchasing an additional 286 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 3rd quarter worth approximately $293,000. Centennial Wealth Advisory LLC raised its position in shares of WEC Energy Group by 6.4% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 3,671 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 221 shares in the last quarter. Capital Management Corp VA bought a new stake in shares of WEC Energy Group during the third quarter valued at approximately $212,000. Finally, Red Cedar Investment Management LLC grew its stake in WEC Energy Group by 389.6% in the third quarter. Red Cedar Investment Management LLC now owns 18,993 shares of the utilities provider’s stock worth $1,827,000 after purchasing an additional 15,114 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.9 %

WEC opened at $97.85 on Wednesday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $100.31. 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 firm has a 50 day moving average price of $95.98 and a 200-day moving average price of $87.92. The stock has a market capitalization of $30.96 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.51 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its 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. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Activity

In related news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s 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 of the company’s stock, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. KeyCorp raised their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America boosted their price target 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. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Three 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 stock currently has an average rating of “Hold” and a consensus target price of $94.45.

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.