Robertson Stephens Wealth Management LLC increased its holdings in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 52.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,373 shares of the utilities provider’s stock after purchasing an additional 1,856 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in WEC Energy Group were worth $560,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in WEC. Truvestments Capital LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $25,000. Nova Wealth Management Inc. purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $26,000. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $32,000. Finally, ORG Partners LLC boosted its stake in shares of WEC Energy Group by 65.7% in the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.
WEC Energy Group Stock Up 1.0%
Shares of NYSE WEC opened at $115.07 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $115.90. The firm has a market capitalization of $37.04 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. The firm has a fifty day simple moving average of $109.95 and a two-hundred day simple moving average of $107.67.
WEC Energy Group Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.39%.
Analyst Ratings Changes
Several equities research analysts have weighed in on WEC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research report on Wednesday. Citigroup started coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They set a “buy” rating and a $131.00 price target for the company. Scotiabank increased their price target on shares of WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. The Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $112.20.
Get Our Latest Stock Report on WEC Energy Group
Insider Buying and Selling
In related news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $110.88, for a total value of $1,023,533.28. Following the completion of the transaction, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the vice president owned 1,757 shares of the company’s stock, valued at approximately $193,797.10. The trade was a 70.39% 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 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than WEC Energy Group
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
- Insider Trades May Not Tell You What You Think
- AST SpaceMobile’s Big Win: Shares Soar on New Deal With Verizon
- Breakout Stocks: What They Are and How to Identify Them
- Catch the Next Bitcoin Rally With These 3 ETFs
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC – Free Report).
Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.