Connor Clark & Lunn Investment Management Ltd. boosted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 23.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,581 shares of the utilities provider's stock after buying an additional 8,397 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in WEC Energy Group were worth $4,858,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new stake in WEC Energy Group in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the first quarter valued at approximately $32,000. Golden State Wealth Management LLC boosted its position in WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after buying an additional 245 shares during the last quarter. Creekmur Asset Management LLC boosted its position in WEC Energy Group by 2,420.0% in the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after buying an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC boosted its position in WEC Energy Group by 138.6% in the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock valued at $59,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.
Insider Transactions at WEC Energy Group
In related news, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the transaction, the executive vice president directly owned 5,829 shares of the company's stock, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,603 shares of company stock worth $7,813,377 in the last quarter. 0.50% of the stock is owned by insiders.
WEC Energy Group Trading Down 0.2%
Shares of NYSE:WEC opened at $109.46 on Wednesday. WEC Energy Group, Inc. has a 1 year low of $88.14 and a 1 year high of $111.90. The firm has a market capitalization of $35.23 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 3.01 and a beta of 0.42. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The business's 50 day moving average price is $106.42 and its 200-day moving average price is $105.92.
WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted $0.67 EPS. The business's revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.
WEC Energy Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be paid a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's dividend payout ratio is currently 68.39%.
Analysts Set New Price Targets
Several research firms have commented on WEC. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Wells Fargo & Company upped their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, WEC Energy Group has an average rating of "Hold" and an average price target of $106.40.
Get Our Latest Research Report on WEC
WEC Energy Group Company Profile
(
Free Report)
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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