DnB Asset Management AS Acquires New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

DnB Asset Management AS purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WECGet Rating) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 10,700 shares of the utilities provider’s stock, valued at approximately $1,077,000.

Several other large investors have also recently modified their holdings of the business. AdvisorNet Financial Inc raised its stake in shares of WEC Energy Group by 6.8% during the second quarter. AdvisorNet Financial Inc now owns 4,189 shares of the utilities provider’s stock valued at $422,000 after acquiring an additional 268 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of WEC Energy Group during the second quarter valued at $345,000. Somerset Trust Co raised its stake in shares of WEC Energy Group by 0.9% during the second quarter. Somerset Trust Co now owns 32,630 shares of the utilities provider’s stock valued at $3,284,000 after acquiring an additional 282 shares during the last quarter. Brasada Capital Management LP raised its stake in shares of WEC Energy Group by 2.4% during the first quarter. Brasada Capital Management LP now owns 13,647 shares of the utilities provider’s stock valued at $1,362,000 after acquiring an additional 315 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of WEC Energy Group by 2.3% during the first quarter. Bank of America Corp DE now owns 5,636,213 shares of the utilities provider’s stock valued at $562,551,000 after acquiring an additional 128,313 shares during the last quarter. Institutional investors own 75.03% of the company’s stock.

Insider Activity

In other news, EVP William Mastoris sold 4,690 shares of WEC Energy Group stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $105.04, for a total transaction of $492,637.60. Following the completion of the transaction, the executive vice president now directly owns 2,506 shares in the company, valued at $263,230.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho lowered their target price on shares of WEC Energy Group from $107.00 to $93.00 and set a “neutral” rating for the company in a research note on Friday, June 17th. Credit Suisse Group downgraded shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $108.00 to $98.00 in a research note on Wednesday, July 20th. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $111.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Finally, Barclays lowered their target price on shares of WEC Energy Group from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.33.

WEC Energy Group Trading Down 1.0 %

NYSE:WEC opened at $99.93 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 3.83 and a beta of 0.28. The firm has a fifty day simple moving average of $103.38 and a two-hundred day simple moving average of $101.23. WEC Energy Group, Inc. has a 12 month low of $86.84 and a 12 month high of $108.39.

WEC Energy Group (NYSE:WECGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $1.76 billion. WEC Energy Group had a net margin of 15.23% and a return on equity of 12.15%. The business’s revenue was up 26.9% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Analysts expect that WEC Energy Group, Inc. will post 4.39 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were issued a dividend of $0.7275 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Thursday, August 11th. WEC Energy Group’s dividend payout ratio is currently 67.21%.

About WEC Energy Group

(Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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