WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 26.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,998 shares of the utilities provider’s stock after purchasing an additional 7,335 shares during the period. Assetmark Inc.’s holdings in WEC Energy Group were worth $3,366,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Global X Japan Co. Ltd. increased its holdings in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new position in WEC Energy Group in the second quarter worth $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group during the second quarter worth $31,000. ESL Trust Services LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth $37,000. Finally, Triad Wealth Partners LLC bought a new position in shares of WEC Energy Group in the 2nd quarter worth about $36,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated 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 owns 3,662 shares in the company, valued at $340,712.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP William J. Guc sold 6,000 shares of the firm’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 completion of the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

WEC opened at $97.85 on Wednesday. The business has a fifty day simple moving average of $95.98 and a 200-day simple moving average of $87.92. The firm has a market cap of $30.96 billion, a PE ratio of 23.92, a P/E/G ratio of 2.51 and a beta of 0.44. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. 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 data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced 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. This represents a $3.34 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Analysts Set New Price Targets

Several research firms recently weighed in on WEC. Bank of America increased 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 note on Thursday, August 29th. Scotiabank raised their price target on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price objective 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. Jefferies Financial Group assumed coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Finally, Wells Fargo & Company upped their price target 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.