SageView Advisory Group LLC Makes New $737,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

SageView Advisory Group LLC purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,123 shares of the utilities provider’s stock, valued at approximately $737,000.

Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG boosted its stake in WEC Energy Group by 3.0% during the 3rd quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock valued at $442,697,000 after purchasing an additional 158,652 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock worth $346,021,000 after purchasing an additional 142,412 shares during the last quarter. Invesco Ltd. raised its stake in shares of WEC Energy Group by 3.8% in the third quarter. Invesco Ltd. now owns 4,216,264 shares of the utilities provider’s stock valued at $339,620,000 after acquiring an additional 155,437 shares during the last quarter. Morgan Stanley boosted its stake in WEC Energy Group by 1.4% in the third quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider’s stock worth $270,179,000 after purchasing an additional 44,797 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in WEC Energy Group by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock valued at $149,635,000 after acquiring an additional 51,540 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. Wells Fargo & Company reduced their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, Scotiabank cut their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.29.

WEC Energy Group Stock Up 0.0 %

Shares of NYSE WEC opened at $80.70 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The firm has a market cap of $25.49 billion, a PE ratio of 17.62, a P/E/G ratio of 2.09 and a beta of 0.40. The company’s fifty day simple moving average is $81.96 and its 200 day simple moving average is $81.61. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.86 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

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.