WEC Energy Group, Inc. $WEC Shares Purchased by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 43.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,582 shares of the utilities provider’s stock after buying an additional 2,002 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in WEC Energy Group were worth $686,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth $403,372,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 34.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after purchasing an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of WEC Energy Group by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 1,529.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 665,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of WEC Energy Group by 20.6% during the first quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock worth $274,564,000 after purchasing an additional 430,269 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $115.07 on Friday. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $115.90. The stock has a market capitalization of $37.04 billion, a P/E ratio of 22.04, a PEG ratio of 3.16 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The business’s fifty day moving average price is $109.95 and its 200 day moving average price is $107.67.

WEC Energy Group (NYSE:WEC) last issued its earnings results 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. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were given a $0.8925 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.1%. WEC Energy Group’s dividend payout ratio (DPR) is 68.39%.

Insider Buying and Selling

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the firm’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 transaction, the chief executive officer directly owned 56,443 shares of the company’s stock, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares in the company, valued at $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock valued at $7,581,132 over the last ninety days. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WEC. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a report on Wednesday. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Citigroup began coverage on WEC Energy Group in a report on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective on the stock. UBS Group raised their price objective on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday. Finally, The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $112.20.

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.