Raleigh Capital Management Inc. Grows Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Raleigh Capital Management Inc. raised its position in WEC Energy Group, Inc. (NYSE:WEC) by 25,448.0% in the 3rd quarter, Holdings Channel reports. The firm owned 6,387 shares of the utilities provider’s stock after buying an additional 6,362 shares during the quarter. Raleigh Capital Management Inc.’s holdings in WEC Energy Group were worth $614,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in WEC Energy Group by 5.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock valued at $216,000 after purchasing an additional 111 shares during the period. Bradley Foster & Sargent Inc. CT grew its position in WEC Energy Group by 2.0% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after purchasing an additional 117 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares during the period. Drake & Associates LLC lifted its stake in WEC Energy Group by 2.0% during the 3rd quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock valued at $598,000 after acquiring an additional 120 shares during the period. Finally, Park National Corp OH lifted its stake in WEC Energy Group by 3.4% during the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 130 shares during the period. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on WEC. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank increased 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. Finally, Barclays raised their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus target price of $94.00.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $99.43 on Tuesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The business’s fifty day moving average price is $94.40 and its two-hundred day moving average price is $86.20. The firm has a market capitalization of $31.40 billion, a PE ratio of 21.71, a P/E/G ratio of 2.57 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $0.92 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is 72.93%.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,702 shares of company stock valued at $1,078,058. Corporate insiders own 0.34% 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.