WEC Energy Group, Inc. $WEC Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 15,055 shares of the utilities provider’s stock after buying an additional 354 shares during the period. Nordea Investment Management AB’s holdings in WEC Energy Group were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $26,000. Bayforest Capital Ltd acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $28,000. Finally, WPG Advisers LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $35,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cowen assumed coverage on WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating on the stock. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Barclays raised their target price on WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Citigroup assumed coverage on WEC Energy Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.83.

WEC Energy Group Stock Down 1.3%

Shares of WEC stock opened at $115.93 on Friday. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $118.18. The stock has a market cap of $37.31 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 3.31 and a beta of 0.47. The business’s fifty day moving average is $111.15 and its 200-day moving average is $108.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

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

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. WEC Energy Group’s dividend payout ratio (DPR) is 68.39%.

Insider Activity at WEC Energy Group

In other news, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares in the company, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 35,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the sale, the director directly owned 274,969 shares of the company’s stock, valued at approximately $30,447,317.37. This represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 in the last quarter. Company insiders own 0.50% of the company’s stock.

WEC Energy Group 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.