Atomi Financial Group Inc. Buys 2,013 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Atomi Financial Group Inc. grew its stake in WEC Energy Group, Inc. (NYSE:WECFree Report) by 67.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,977 shares of the utilities provider’s stock after purchasing an additional 2,013 shares during the quarter. Atomi Financial Group Inc.’s holdings in WEC Energy Group were worth $468,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WEC. Mizuho Securities USA LLC increased its stake in shares of 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 purchasing an additional 25,975,652 shares during the period. Wellington Management Group LLP grew its holdings in WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after buying an additional 4,691,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after buying an additional 1,912,223 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after buying an additional 699,177 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after acquiring an additional 695,317 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Up 0.7 %

WEC stock opened at $98.02 on Friday. The firm has a 50-day moving average price of $96.73 and a 200-day moving average price of $93.62. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $102.79. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $31.01 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48.

WEC Energy Group (NYSE:WECGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.89 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Activity at WEC Energy Group

In other news, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 in the last quarter. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

WEC has been the topic of a number of recent research reports. Scotiabank raised their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. KeyCorp lifted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $98.40.

Get Our Latest Report on WEC

WEC Energy Group Profile

(Free Report)

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.

Recommended Stories

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

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.