Mirae Asset Global Investments Co. Ltd. Has $2.67 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 39.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,114 shares of the utilities provider’s stock after purchasing an additional 7,905 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in WEC Energy Group were worth $2,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Spirit of America Management Corp NY grew its holdings in shares of WEC Energy Group by 2.7% during the fourth quarter. Spirit of America Management Corp NY now owns 17,200 shares of the utilities provider’s stock valued at $1,617,000 after buying an additional 450 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in WEC Energy Group during the 4th quarter valued at about $204,000. Stratos Wealth Partners LTD. increased its holdings in WEC Energy Group by 4.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 93,747 shares of the utilities provider’s stock worth $8,816,000 after purchasing an additional 3,662 shares in the last quarter. Old North State Wealth Management LLC raised its stake in shares of WEC Energy Group by 13.1% in the fourth quarter. Old North State Wealth Management LLC now owns 3,073 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 356 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of WEC Energy Group by 31.3% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 1,646 shares of the utilities provider’s stock worth $155,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WEC. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank upped their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. BMO Capital Markets raised their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Up 1.0 %

WEC opened at $101.82 on Monday. The company’s 50-day moving average price is $96.60 and its two-hundred day moving average price is $95.21. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79. The stock has a market cap of $32.21 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.53 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio is presently 69.15%.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is owned by company insiders.

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.