WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its position in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,283 shares of the utilities provider’s stock after purchasing an additional 144 shares during the period. D.A. Davidson & CO.’s holdings in WEC Energy Group were worth $828,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of WEC Energy Group by 3.0% during the second quarter. Geode Capital Management LLC now owns 7,008,729 shares of the utilities provider’s stock worth $616,906,000 after purchasing an additional 203,181 shares in the last quarter. Magellan Asset Management Ltd lifted its position in shares of WEC Energy Group by 17.0% during the second quarter. Magellan Asset Management Ltd now owns 5,316,833 shares of the utilities provider’s stock worth $469,157,000 after purchasing an additional 772,372 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of WEC Energy Group by 3.4% during the second quarter. Nuveen Asset Management LLC now owns 3,998,540 shares of the utilities provider’s stock worth $352,831,000 after purchasing an additional 131,280 shares in the last quarter. Morgan Stanley lifted its position in shares of WEC Energy Group by 9.4% during the fourth quarter. Morgan Stanley now owns 3,236,416 shares of the utilities provider’s stock worth $303,446,000 after purchasing an additional 277,337 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of WEC Energy Group by 3.4% during the first quarter. Invesco Ltd. now owns 2,505,757 shares of the utilities provider’s stock worth $250,098,000 after purchasing an additional 83,354 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on WEC shares. Mizuho reduced their target price on shares of WEC Energy Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, December 18th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. JPMorgan Chase & Co. cut shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their price target for the company from $90.00 to $84.00 in a report on Friday, February 2nd. Barclays cut their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Finally, Royal Bank of Canada cut their price target on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.17.

Read Our Latest Report on WEC

WEC Energy Group Stock Up 1.0 %

Shares of NYSE:WEC opened at $78.36 on Tuesday. The stock has a market capitalization of $24.72 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.70 and a beta of 0.41. WEC Energy Group, Inc. has a 1-year low of $75.47 and a 1-year high of $99.26. The company’s fifty day moving average is $82.35 and its two-hundred day moving average is $83.15. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WECGet Free Report) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.26%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.78. WEC Energy Group’s dividend payout ratio is currently 73.93%.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 600 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $83.46, for a total transaction of $50,076.00. Following the completion of the transaction, the director now owns 20,933 shares in the company, valued at $1,747,068.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

About WEC Energy Group

(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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading

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

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