Baillie Gifford & Co. Acquires 5,008 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Baillie Gifford & Co. grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,629 shares of the utilities provider’s stock after buying an additional 5,008 shares during the period. Baillie Gifford & Co.’s holdings in WEC Energy Group were worth $13,526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEC. Global X Japan Co. Ltd. increased its position in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group during the second quarter valued at about $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group in the second quarter worth about $31,000. Triad Wealth Partners LLC purchased a new stake in WEC Energy Group in the second quarter worth about $36,000. Finally, ESL Trust Services LLC bought a new stake in WEC Energy Group during the 1st quarter valued at approximately $37,000. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction on 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 owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WEC. Barclays increased their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price target on shares of 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. Finally, Scotiabank lifted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. 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 company currently has a consensus rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Trading Down 0.9 %

NYSE:WEC opened at $97.85 on Wednesday. The stock has a market cap of $30.95 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.54 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. The company’s 50 day moving average price is $95.98 and its 200-day moving average price is $87.92. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

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

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.