Cidel Asset Management Inc. Has $20.94 Million Holdings in WEC Energy Group, Inc. $WEC

Key Points

• Cidel Asset Management Inc. increased its holdings in WEC Energy Group by 1.6%, owning approximately $20.94 million worth of shares as of its latest filing.
• WEC Energy Group announced a quarterly dividend of $0.8925 per share, translating to an annualized yield of 3.1%, with the ex-dividend date set for November 14th.
• Recent ratings for WEC Energy Group include upgrades to a buy by LADENBURG THALM/SH SH and target price increases by KeyCorp, reflecting positive analyst sentiment.

Cidel Asset Management Inc. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,914 shares of the utilities provider's stock after buying an additional 3,119 shares during the period. WEC Energy Group comprises approximately 1.3% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 27th biggest position. Cidel Asset Management Inc. owned approximately 0.06% of WEC Energy Group worth $20,935,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of WEC. Nuveen LLC acquired a new stake in WEC Energy Group in the first quarter valued at $403,372,000. Charles Schwab Investment Management Inc. increased its holdings in WEC Energy Group by 34.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after purchasing an additional 1,349,522 shares during the period. JPMorgan Chase & Co. increased its holdings in WEC Energy Group by 16.6% in the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after purchasing an additional 726,267 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in WEC Energy Group by 1,529.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock valued at $77,290,000 after purchasing an additional 665,681 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in WEC Energy Group by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider's stock valued at $274,564,000 after purchasing an additional 430,269 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $116.84 on Friday. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.10. The company's 50 day moving average price is $110.54 and its two-hundred day moving average price is $107.96. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The stock has a market cap of $37.61 billion, a P/E ratio of 22.38, a P/E/G ratio of 3.29 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.28 billion for the quarter. On average, equities analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Dividend Announcement

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

Wall Street Analyst Weigh In

WEC has been the subject of a number of recent research reports. Cowen started coverage on WEC Energy Group in a report on Wednesday. They issued a "hold" rating for the company. LADENBURG THALM/SH SH upgraded WEC Energy Group from a "neutral" rating to a "buy" rating in a research note on Monday, October 13th. KeyCorp raised their target price on WEC Energy Group from $110.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday. TD Cowen initiated coverage on shares of WEC Energy Group in a research report on Thursday. They issued a "hold" rating and a $125.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $114.64.

Insider Buying and Selling

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

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.

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