ProShare Advisors LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 7.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 72,709 shares of the utilities provider’s stock after buying an additional 4,816 shares during the period. ProShare Advisors LLC’s holdings in WEC Energy Group were worth $7,668,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its stake in WEC Energy Group by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 54,864 shares of the utilities provider’s stock worth $5,786,000 after buying an additional 1,084 shares in the last quarter. Intrua Financial LLC grew its position in shares of WEC Energy Group by 4.1% in the fourth quarter. Intrua Financial LLC now owns 8,285 shares of the utilities provider’s stock valued at $874,000 after purchasing an additional 326 shares in the last quarter. Mission Wealth Management LP grew its position in shares of WEC Energy Group by 9.3% in the fourth quarter. Mission Wealth Management LP now owns 4,601 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 393 shares in the last quarter. Dougherty & Associates LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $554,000. Finally, North Dakota State Investment Board purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $1,155,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.
WEC Energy Group Trading Up 1.3%
WEC opened at $112.12 on Friday. WEC Energy Group, Inc. has a one year low of $102.49 and a one year high of $119.62. The stock has a market capitalization of $36.52 billion, a PE ratio of 22.38, a P/E/G ratio of 2.66 and a beta of 0.50. The business’s 50 day moving average price is $114.65 and its 200 day moving average price is $111.62. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 0.68.
WEC Energy Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 14th will be issued a $0.9525 dividend. The ex-dividend date is Thursday, May 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.4%. WEC Energy Group’s dividend payout ratio is currently 76.05%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on WEC shares. Barclays upped their price target on WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. BTIG Research restated a “buy” rating and issued a $135.00 price target on shares of WEC Energy Group in a research report on Friday, January 30th. BMO Capital Markets restated a “market perform” rating and issued a $121.00 price target on shares of WEC Energy Group in a research report on Friday, February 6th. KeyCorp upped their price target on WEC Energy Group from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $122.13.
Get Our Latest Analysis on WEC Energy Group
Insider Buying and Selling
In other news, Director Ulice Payne, Jr. sold 1,450 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $114.60, for a total transaction of $166,170.00. Following the completion of the transaction, the director directly owned 20,541 shares in the company, valued at $2,353,998.60. This trade represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel Krueger sold 4,665 shares of WEC Energy Group stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total value of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares of the company’s stock, valued at $815,112.16. The trade was a 38.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% of the company’s stock.
About WEC Energy Group
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
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