DRW Securities LLC Makes New $1.39 Million Investment in WEC Energy Group, Inc. (NYSE:WEC)

DRW Securities LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,476 shares of the utilities provider’s stock, valued at approximately $1,392,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mizuho Securities USA LLC boosted its stake in WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after buying an additional 25,975,652 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the period. American Century Companies Inc. boosted its stake in shares of WEC Energy Group by 36.7% during the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares during the period. Earnest Partners LLC boosted its stake in shares of WEC Energy Group by 11.8% during the second quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after purchasing an additional 206,637 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of WEC Energy Group by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock valued at $139,889,000 after purchasing an additional 61,019 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total transaction of $179,417.00. Following the transaction, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. This trade represents a 46.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,034 shares of company stock worth $5,725,969 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $101.36 on Tuesday. The company has a market capitalization of $32.07 billion, a PE ratio of 24.78, a P/E/G ratio of 2.73 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The company has a 50-day simple moving average of $96.80 and a two-hundred day simple moving average of $89.02. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $101.59.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. Research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

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 issued a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.30%. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Analyst Ratings Changes

WEC has been the subject of a number of recent analyst reports. 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 research note on Thursday, August 29th. KeyCorp boosted their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. 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 research note on Tuesday, August 20th. Barclays lifted their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company lifted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.45.

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.