DRW Securities LLC Buys New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

DRW Securities LLC bought a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,476 shares of the utilities provider’s stock, valued at approximately $1,392,000.

A number of other large investors have also recently bought and sold shares of WEC. B. Riley Wealth Advisors Inc. boosted its position in WEC Energy Group by 2.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 6,876 shares of the utilities provider’s stock valued at $554,000 after buying an additional 142 shares during the last quarter. Comerica Bank boosted its position in WEC Energy Group by 1.1% in the first quarter. Comerica Bank now owns 98,183 shares of the utilities provider’s stock valued at $8,063,000 after buying an additional 1,093 shares during the last quarter. KLCM Advisors Inc. boosted its position in WEC Energy Group by 4.7% in the first quarter. KLCM Advisors Inc. now owns 35,942 shares of the utilities provider’s stock valued at $2,952,000 after buying an additional 1,611 shares during the last quarter. Cetera Investment Advisers boosted its position in WEC Energy Group by 359.5% in the first quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock valued at $9,453,000 after buying an additional 90,062 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in WEC Energy Group by 76.7% in the 1st quarter. Cetera Advisors LLC now owns 28,740 shares of the utilities provider’s stock worth $2,360,000 after purchasing an additional 12,471 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This trade represents a 43.79 % 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 Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 46.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,034 shares of company stock valued at $5,725,969. 0.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WEC has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective on the stock. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets upped their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Finally, Bank of America upped their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Trading Up 0.7 %

Shares of NYSE:WEC opened at $101.36 on Tuesday. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $101.59. The firm has a market capitalization of $32.07 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.73 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The business’s 50 day moving average price is $96.80 and its 200-day moving average price is $89.02.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the company earned $1.00 EPS. The firm’s revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company 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 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

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.