Atlantic Union Bankshares Corp Takes $77,000 Position in WEC Energy Group, Inc. $WEC

Atlantic Union Bankshares Corp bought a new position in WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 740 shares of the utilities provider’s stock, valued at approximately $77,000.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of WEC Energy Group by 34.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after acquiring an additional 1,349,522 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of WEC Energy Group by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock worth $466,451,000 after purchasing an additional 33,810 shares in the last quarter. Northern Trust Corp lifted its holdings in WEC Energy Group by 4.9% during the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock valued at $436,298,000 after purchasing an additional 188,057 shares during the last quarter. Finally, Nuveen LLC acquired a new position in WEC Energy Group in the first quarter valued at about $403,372,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.4%

WEC stock opened at $112.42 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18. The company has a market cap of $36.57 billion, a P/E ratio of 21.25, a PEG ratio of 3.18 and a beta of 0.48. The business has a fifty day moving average of $112.50 and a 200-day moving average of $108.83.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The firm had revenue of $2.28 billion during the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio is currently 67.49%.

Analyst Ratings Changes

WEC has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Mizuho set a $125.00 price target on WEC Energy Group in a report on Monday, October 27th. Scotiabank boosted their price objective on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Finally, Wells Fargo & Company started coverage on WEC Energy Group in a report on Monday, October 27th. They issued an “overweight” rating and a $124.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.21.

About WEC Energy Group

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.