23,753 Shares of WEC Energy Group, Inc. $WEC Purchased by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super established a new WEC Energy Group position, purchasing 23,753 shares worth approximately $2.4 million in the third quarter. Institutional investors collectively own 77.2% of the company’s stock.
• Analysts’ consensus rating is Hold, with an average price target of $118; views range from Buy to Sell.
• WEC reported quarterly EPS of $1.18, topping the $0.97 estimate, and revenue rose 8.9% year over year. The company declared a quarterly dividend of $0.9525 per share, equivalent to a 3.3% annualized yield.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 23,753 shares of the utilities provider's stock, valued at approximately $2,394,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $299,100,000. Magellan Asset Management Ltd purchased a new position in WEC Energy Group during the 2nd quarter worth approximately $144,582,000. Caisse de depot et placement du Quebec purchased a new position in WEC Energy Group during the 2nd quarter worth approximately $128,290,000. Energy Income Partners LLC acquired a new position in WEC Energy Group during the second quarter worth approximately $97,564,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in WEC Energy Group during the second quarter worth approximately $95,395,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WEC. LADENBURG THALM/SH SH decreased their price objective on WEC Energy Group from $110.50 to $108.50 and set a "neutral" rating for the company in a report on Wednesday, August 19th. KeyCorp cut their target price on shares of WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $127.00 to $129.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Weiss Ratings upgraded shares of WEC Energy Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Finally, Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $118.00.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the sale, the director owned 19,588 shares of the company's stock, valued at $2,068,101.04. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $115.50 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.34. The stock has a 50 day simple moving average of $106.22 and a 200-day simple moving average of $111.53. The company has a market cap of $38.00 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.43. WEC Energy Group, Inc. has a 12-month low of $99.80 and a 12-month high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Thursday, October 29th. The utilities provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.21. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.27 billion. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. WEC Energy Group's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. On average, equities analysts forecast that WEC Energy Group, Inc. will post 5.61 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group's payout ratio is 69.15%.

About WEC Energy Group

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy's principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.

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