2,155 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,155 shares of the utilities provider’s stock, valued at approximately $207,000.

Other hedge funds have also added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its stake in WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 1,912,223 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after acquiring an additional 695,317 shares during the period. American Century Companies Inc. increased its holdings in WEC Energy Group by 36.7% in the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after acquiring an additional 688,812 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in WEC Energy Group by 151.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 583,990 shares of the utilities provider’s stock valued at $56,168,000 after acquiring an additional 351,972 shares during the period. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

WEC has been the subject of several recent research reports. Scotiabank lifted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. Barclays increased their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Bank of America lifted their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.45.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 1,805 shares of WEC Energy Group stock in a transaction on Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the transaction, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group 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 completion of the transaction, the chief executive officer now owns 45,709 shares in the company, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock worth $4,866,579 over the last ninety days. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $101.05 on Friday. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $102.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market cap of $31.97 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.77 and a beta of 0.44. The firm’s fifty day moving average price is $97.33 and its 200-day moving average price is $89.42.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

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.