Cobblestone Capital Advisors LLC NY Increases Holdings in WEC Energy Group, Inc. $WEC

Cobblestone Capital Advisors LLC NY grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,995 shares of the utilities provider’s stock after buying an additional 156 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in WEC Energy Group were worth $312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WEC. Nuveen LLC purchased a new position in shares of WEC Energy Group during the first quarter valued at about $403,372,000. Charles Schwab Investment Management Inc. grew 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 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% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after acquiring an additional 726,267 shares during the period. T. Rowe Price Investment Management Inc. grew 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 acquiring an additional 665,681 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock worth $274,564,000 after buying an additional 430,269 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WEC shares. Wells Fargo & Company began coverage on shares of WEC Energy Group in a report on Monday. They issued an “overweight” rating and a $124.00 price objective on the stock. Cowen assumed coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating on the stock. BMO Capital Markets increased their price objective on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research report on Tuesday, October 21st. Scotiabank increased their price objective on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Finally, Mizuho set a $125.00 price target on WEC Energy Group in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $120.14.

Insiders Place Their Bets

In related news, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the sale, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 9,231 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the completion of the sale, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. This represents a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $116.57 on Tuesday. The company has a market capitalization of $37.52 billion, a PE ratio of 22.33, a price-to-earnings-growth 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 business’s fifty day moving average is $111.52 and its 200 day moving average is $108.50. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $118.18.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion for the quarter. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Dividend Announcement

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

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.