Raleigh Capital Management Inc. Grows Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Raleigh Capital Management Inc. grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 25,448.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,387 shares of the utilities provider’s stock after acquiring an additional 6,362 shares during the period. Raleigh Capital Management Inc.’s holdings in WEC Energy Group were worth $614,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of WEC Energy Group in the 3rd quarter valued at approximately $121,000. MBE Wealth Management LLC acquired a new stake in shares of WEC Energy Group in the 3rd quarter valued at $217,000. Allspring Global Investments Holdings LLC raised its holdings in shares of WEC Energy Group by 9.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 132,214 shares of the utilities provider’s stock valued at $12,716,000 after purchasing an additional 11,198 shares in the last quarter. Buckley Wealth Management LLC raised its holdings in shares of WEC Energy Group by 2.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 6,503 shares of the utilities provider’s stock valued at $625,000 after purchasing an additional 174 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of WEC Energy Group by 4.2% in the 3rd quarter. OLD National Bancorp IN now owns 82,539 shares of the utilities provider’s stock valued at $7,939,000 after purchasing an additional 3,342 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In related news, VP Mary Beth Straka sold 3,240 shares of the business’s 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 sale, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 completion of the transaction, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WEC shares. BMO Capital Markets raised 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. Barclays boosted their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, KeyCorp upped their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average target price of $94.00.

WEC Energy Group Price Performance

Shares of WEC stock opened at $99.43 on Tuesday. The stock has a 50-day moving average price of $94.40 and a 200 day moving average price of $86.20. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm has a market cap of $31.40 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.57 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company earned $0.92 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared 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. This represents a $3.34 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

WEC Energy Group 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.