WEC Energy Group, Inc. $WEC Position Increased by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its position in WEC Energy Group by 27.4%, owning a total of 41,253 shares worth approximately $4.3 million.
• Institutional investors currently hold 77.20% of WEC Energy Group's stock, highlighting strong institutional interest in the company.
• WEC Energy Group's stock has an average price target of $112.20, with ratings that include six "Buy" ratings, five "Hold" ratings, and one "Sell" rating from analysts.

Vanguard Personalized Indexing Management LLC raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 27.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,253 shares of the utilities provider's stock after purchasing an additional 8,873 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in WEC Energy Group were worth $4,303,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nuveen LLC bought a new position in shares of WEC Energy Group during the first quarter valued at approximately $403,372,000. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 34.9% during 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 last quarter. JPMorgan Chase & Co. grew its stake in WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock worth $556,191,000 after buying an additional 726,267 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock worth $77,290,000 after buying an additional 665,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in WEC Energy Group by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider's stock worth $274,564,000 after buying an additional 430,269 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WEC. Weiss Ratings restated a "buy (b-)" rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Citigroup assumed coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They issued a "buy" rating and a $131.00 target price for the company. Scotiabank upped their target price on shares of WEC Energy Group from $115.00 to $129.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a "neutral" rating to a "buy" rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $112.20.

Insider Buying and Selling

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction on Monday, August 4th. The stock was 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 owned 6,606 shares in the company, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by insiders.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $116.55 on Wednesday. The stock has a fifty day moving average price of $110.15 and a two-hundred day moving average price of $107.80. 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 firm has a market cap of $37.51 billion, a P/E ratio of 22.33, a PEG ratio of 3.24 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $117.20.

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

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were paid a $0.8925 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. WEC Energy Group's payout ratio is currently 68.39%.

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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