Envestnet Asset Management Inc. Acquires 189,890 Shares of WEC Energy Group, Inc. $WEC

Envestnet Asset Management Inc. increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,709,291 shares of the utilities provider’s stock after buying an additional 189,890 shares during the period. Envestnet Asset Management Inc. owned 0.85% of WEC Energy Group worth $282,308,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WEC. Nuveen LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth $403,372,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after buying an additional 1,349,522 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after buying an additional 726,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after buying an additional 665,681 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of WEC Energy Group by 40.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,319,511 shares of the utilities provider’s stock worth $143,800,000 after buying an additional 376,960 shares during the period. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

WEC has been the subject of several recent analyst reports. Barclays upped their price objective on shares of WEC Energy Group from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a report on Friday. Citigroup initiated coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target for the company. TD Cowen initiated coverage on shares of WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target for the company. Finally, BMO Capital Markets increased their price target on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $118.83.

WEC Energy Group Trading Down 0.1%

Shares of WEC stock opened at $115.83 on Monday. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18. The stock has a market cap of $37.28 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 3.27 and a beta of 0.47. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The firm has a fifty day moving average of $111.32 and a 200-day moving average of $108.42.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.28 billion during the quarter. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.8925 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the sale, the director owned 274,969 shares in the company, valued at $30,447,317.37. This trade represents a 11.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Anthony Reese sold 4,177 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the sale, the vice president owned 1,757 shares of the company’s stock, valued at $193,797.10. This trade represents a 70.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,448 shares of company stock worth $7,581,132. Insiders own 0.50% of the company’s stock.

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.