Bessemer Group Inc. Grows Position in WEC Energy Group, Inc. $WEC

Bessemer Group Inc. lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 923,107 shares of the utilities provider’s stock after purchasing an additional 7,720 shares during the quarter. Bessemer Group Inc. owned about 0.29% of WEC Energy Group worth $96,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Horizon Investment Services LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $379,000. Los Angeles Capital Management LLC grew its holdings in shares of WEC Energy Group by 2,964.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock worth $11,841,000 after purchasing an additional 105,106 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of WEC Energy Group during the 1st quarter worth $10,333,000. DAVENPORT & Co LLC grew its holdings in shares of WEC Energy Group by 55.0% during the 1st quarter. DAVENPORT & Co LLC now owns 35,710 shares of the utilities provider’s stock worth $3,892,000 after purchasing an additional 12,665 shares during the period. Finally, OLD Republic International Corp grew its holdings in shares of WEC Energy Group by 1.2% during the 1st quarter. OLD Republic International Corp now owns 336,279 shares of the utilities provider’s stock worth $36,648,000 after purchasing an additional 3,948 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the transaction, the director owned 20,360 shares in the company, valued at approximately $2,259,960. The trade was a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock worth $7,581,132 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WEC shares. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Mizuho set a $125.00 target price on WEC Energy Group in a research note on Monday. Citigroup initiated coverage on WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 target price on the stock. Barclays increased their target price on WEC Energy Group from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Finally, Cowen initiated coverage on WEC Energy Group in a research note on Wednesday, October 15th. They set a “hold” rating on the stock. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.14.

WEC Energy Group Price Performance

WEC stock opened at $116.57 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The firm has a market capitalization of $37.52 billion, a P/E ratio of 22.33, a P/E/G ratio of 3.27 and a beta of 0.47. The business’s 50-day moving average is $111.52 and its two-hundred day moving average is $108.50. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $118.18.

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

WEC Energy Group Announces Dividend

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

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.