WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 48.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,438 shares of the utilities provider’s stock after buying an additional 5,667 shares during the quarter. Profund Advisors LLC’s holdings in WEC Energy Group were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kowal Investment Group LLC lifted its position in WEC Energy Group by 0.8% in the second quarter. Kowal Investment Group LLC now owns 40,362 shares of the utilities provider’s stock worth $3,167,000 after purchasing an additional 317 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of WEC Energy Group by 23.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 152,088 shares of the utilities provider’s stock worth $11,933,000 after buying an additional 28,405 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of WEC Energy Group by 22.9% in the second quarter. Sei Investments Co. now owns 899,091 shares of the utilities provider’s stock valued at $70,543,000 after buying an additional 167,340 shares during the period. AE Wealth Management LLC boosted its stake in WEC Energy Group by 2.2% during the second quarter. AE Wealth Management LLC now owns 127,667 shares of the utilities provider’s stock valued at $10,017,000 after buying an additional 2,701 shares in the last quarter. Finally, Bridges Investment Management Inc. grew its holdings in WEC Energy Group by 5.4% during the second quarter. Bridges Investment Management Inc. now owns 6,325 shares of the utilities provider’s stock worth $496,000 after acquiring an additional 325 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Anthony Reese sold 1,362 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,702 shares of company stock valued at $1,078,058. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 0.5 %

Shares of WEC Energy Group stock opened at $95.18 on Tuesday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.65. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average price of $90.07 and a two-hundred day moving average price of $84.06. The stock has a market capitalization of $30.06 billion, a P/E ratio of 20.78, a PEG ratio of 2.47 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. WEC Energy Group’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.51%. WEC Energy Group’s payout ratio is presently 72.93%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WEC. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Barclays lifted their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Scotiabank upped their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $91.31.

WEC Energy Group Company 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.