WEC Energy Group, Inc. $WEC Stock Purchased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its WEC Energy Group stake by 550% in the third quarter, adding 248,640 shares to own 293,851 shares valued at about $29.6 million. Institutional investors collectively own 77.2% of the company.
• WEC reported quarterly earnings of $1.18 per share, beating the $0.97 analyst consensus; revenue reached $2.29 billion, up 8.9% year over year.
• The company declared a quarterly dividend of $0.9525 per share, or $3.81 annually, a yield of about 3.2%. Analysts’ consensus rating is “Hold,” with an average price target of $117.88.

Eurizon Capital SGR S.p.A. boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 550.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,851 shares of the utilities provider's stock after purchasing an additional 248,640 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.09% of WEC Energy Group worth $29,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. John Boyer Inc. purchased a new position in shares of WEC Energy Group during the third quarter valued at approximately $25,000. Compass Financial Management LLC bought a new position in shares of WEC Energy Group during the second quarter valued at approximately $29,000. Silvant Capital Management LLC purchased a new stake in shares of WEC Energy Group in the second quarter worth approximately $34,000. Paladin Partners LLC purchased a new stake in shares of WEC Energy Group in the second quarter worth approximately $34,000. Finally, Addison Advisors LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $34,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $117.54 on Friday. The company has a market capitalization of $38.67 billion, a PE ratio of 19.71, a P/E/G ratio of 2.42 and a beta of 0.43. The company has a 50-day simple moving average of $107.96 and a two-hundred day simple moving average of $111.86. WEC Energy Group, Inc. has a one year low of $99.80 and a one year high of $120.15. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.36 and a current ratio of 0.53.

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

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group's payout ratio is currently 69.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WEC. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Sunday, November 8th. KeyCorp decreased their target price on WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. Weiss Ratings raised shares of WEC Energy Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, November 2nd. JPMorgan Chase & Co. cut their price target on shares of WEC Energy Group from $121.00 to $116.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. Finally, Truist Financial reduced their price target on shares of WEC Energy Group from $114.00 to $113.00 and set a "hold" rating on the stock in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $117.88.

Insider Transactions at WEC Energy Group

In other news, VP Margaret Kelsey sold 18,380 shares of the company's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $117.37, for a total transaction of $2,157,260.60. Following the transaction, the vice president directly owned 12,178 shares of the company's stock, valued at approximately $1,429,331.86. This represents a 60.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

About WEC Energy Group

WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers. The company's utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services. WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.

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