TD Asset Management Inc Buys 11,097 Shares of WEC Energy Group, Inc. $WEC

Key Points

• TD Asset Management Inc increased its holdings in WEC Energy Group by 6.3%, now owning 186,221 shares valued at approximately $19.4 million after acquiring an additional 11,097 shares in the second quarter.
• WEC Energy Group announced a quarterly dividend of $0.8925 per share, representing an annualized yield of 3.1%, with payment set for December 1st.
• Research analysts have mixed views on WEC Energy Group, with several upgrades and a consensus rating of Hold, while the average target price is set at $114.64.

TD Asset Management Inc boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,221 shares of the utilities provider's stock after purchasing an additional 11,097 shares during the period. TD Asset Management Inc owned about 0.06% of WEC Energy Group worth $19,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Truvestments Capital LLC purchased a new position in shares of WEC Energy Group during the 1st quarter valued at about $25,000. Nova Wealth Management Inc. purchased a new position in WEC Energy Group during the first quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $28,000. ORG Partners LLC increased its stake in shares of WEC Energy Group by 65.7% in the second quarter. ORG Partners LLC now owns 328 shares of the utilities provider's stock worth $34,000 after purchasing an additional 130 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of WEC Energy Group in the first quarter worth $35,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Performance

WEC opened at $116.84 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The stock has a market capitalization of $37.61 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 3.28 and a beta of 0.47. The company has a fifty day moving average of $110.54 and a 200 day moving average of $107.97. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $118.10.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.28 billion during the quarter. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. WEC Energy Group's dividend payout ratio is currently 68.39%.

Insider Activity

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the transaction, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction 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 $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cowen initiated coverage on shares of WEC Energy Group in a report on Wednesday. They issued a "hold" rating for the company. Weiss Ratings restated a "buy (b-)" rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH raised WEC Energy Group from a "neutral" rating to a "buy" rating in a research note on Monday, October 13th. TD Cowen assumed coverage on WEC Energy Group in a research report on Thursday. They set a "hold" rating and a $125.00 target price for the company. Finally, The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $114.64.

WEC Energy Group Profile

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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