Dearborn Partners LLC bought a new position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 314,438 shares of the utilities provider’s stock, valued at approximately $36,402,000. WEC Energy Group makes up about 1.9% of Dearborn Partners LLC’s portfolio, making the stock its 8th largest holding. Dearborn Partners LLC owned 0.10% of WEC Energy Group as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its position in WEC Energy Group by 972.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 214 shares during the period. Godfrey Financial Associates Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $25,000. Torren Management LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth $26,000. Physician Wealth Advisors Inc. boosted its holdings in shares of WEC Energy Group by 113.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 246 shares of the utilities provider’s stock worth $28,000 after buying an additional 131 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in WEC Energy Group in the 2nd quarter valued at $27,000. Institutional investors own 77.20% of the company’s stock.
WEC Energy Group Stock Up 1.5%
Shares of WEC opened at $107.60 on Tuesday. The company has a market capitalization of $35.06 billion, a P/E ratio of 20.85, a PEG ratio of 1.83 and a beta of 0.47. WEC Energy Group, Inc. has a one year low of $102.95 and a one year high of $119.91. The business’s 50 day simple moving average is $112.73 and its 200-day simple moving average is $113.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.53 and a quick ratio of 0.39.
WEC Energy Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.9525 per share. The ex-dividend date is Friday, August 14th. This represents a $3.81 annualized dividend and a yield of 3.5%. WEC Energy Group’s dividend payout ratio is 73.84%.
Analysts Set New Price Targets
Several brokerages recently weighed in on WEC. Mizuho set a $124.00 target price on WEC Energy Group in a research note on Wednesday, May 6th. BMO Capital Markets reduced their price objective on WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Truist Financial dropped their target price on shares of WEC Energy Group from $122.00 to $114.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. upped their target price on shares of WEC Energy Group from $120.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, KeyCorp reduced their price target on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.91.
Insider Transactions at WEC Energy Group
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 sale, the director owned 19,588 shares of the company’s stock, 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 can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.
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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