WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 477,568 shares of the utilities provider’s stock after acquiring an additional 20,785 shares during the period. Vaughan David Investments LLC IL owned about 0.15% of WEC Energy Group worth $37,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in WEC Energy Group by 2.9% during the fourth quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock worth $342,669,000 after acquiring an additional 116,219 shares during the last quarter. Earnest Partners LLC raised its position in shares of WEC Energy Group by 36.0% in the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $143,557,000 after buying an additional 462,646 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of WEC Energy Group by 93.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after buying an additional 803,718 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of WEC Energy Group in the first quarter valued at approximately $127,945,000. Finally, Goldman Sachs Group Inc. raised its position in shares of WEC Energy Group by 15.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,520,644 shares of the utilities provider’s stock valued at $127,993,000 after buying an additional 199,288 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Scotiabank boosted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets boosted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Bank of America boosted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $89.77.

WEC Energy Group Trading Up 0.7 %

NYSE WEC opened at $95.55 on Wednesday. The stock has a market cap of $30.20 billion, a P/E ratio of 20.86, a PEG ratio of 2.41 and a beta of 0.44. The company’s fifty day simple moving average is $87.10 and its 200-day simple moving average is $83.03. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $96.15.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. Equities research analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.50%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the company’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 transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock valued at $1,078,058 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.