Park National Corp OH lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 157,349 shares of the utilities provider’s stock after buying an additional 4,863 shares during the quarter. Park National Corp OH’s holdings in WEC Energy Group were worth $18,374,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth $25,000. Torren Management LLC purchased a new position in shares of WEC Energy Group in the fourth quarter valued at about $26,000. Osterweis Capital Management Inc. purchased a new stake in shares of WEC Energy Group during the second quarter worth about $27,000. Physician Wealth Advisors Inc. raised its stake in WEC Energy Group by 113.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 131 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in WEC Energy Group by 972.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 214 shares during the period. Institutional investors own 77.20% of the company’s stock.
WEC Energy Group Stock Performance
Shares of NYSE:WEC opened at $108.96 on Thursday. The firm has a fifty day simple moving average of $113.31 and a two-hundred day simple moving average of $113.76. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $35.50 billion, a P/E ratio of 21.12, a PEG ratio of 1.85 and a beta of 0.47.
WEC Energy Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.9525 dividend. This represents a $3.81 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s payout ratio is presently 73.84%.
Wall Street Analyst Weigh In
WEC has been the subject of several recent analyst reports. LADENBURG THALM/SH SH downgraded WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 price target for the company. in a research note on Tuesday, August 4th. KeyCorp lowered their target price on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Barclays upped their target price on shares of WEC Energy Group from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Mizuho set a $124.00 price target on shares of WEC Energy Group in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.41.
Check Out Our Latest Report on WEC
Insider Activity
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the transaction, the director directly owned 19,588 shares in the company, valued at $2,068,101.04. This represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Krueger sold 4,665 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president owned 7,346 shares of the company’s stock, valued at approximately $815,112.16. This represents a 38.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.46% of the company’s stock.
WEC Energy Group Company Profile
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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