Park Place Capital Corp Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Park Place Capital Corp boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 108.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,212 shares of the utilities provider’s stock after acquiring an additional 1,151 shares during the quarter. Park Place Capital Corp’s holdings in WEC Energy Group were worth $213,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in WEC Energy Group by 3.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 15,684 shares of the utilities provider’s stock worth $1,320,000 after buying an additional 481 shares in the last quarter. Sei Investments Co. grew its holdings in shares of WEC Energy Group by 44.9% in the 4th quarter. Sei Investments Co. now owns 573,567 shares of the utilities provider’s stock worth $48,278,000 after acquiring an additional 177,805 shares during the period. Icon Wealth Advisors LLC purchased a new position in WEC Energy Group in the 4th quarter valued at approximately $1,051,000. Bridgefront Capital LLC raised its holdings in WEC Energy Group by 96.2% during the fourth quarter. Bridgefront Capital LLC now owns 8,150 shares of the utilities provider’s stock worth $686,000 after purchasing an additional 3,997 shares during the last quarter. Finally, Financial Planning & Information Services Inc. boosted its position in WEC Energy Group by 16.4% during the fourth quarter. Financial Planning & Information Services Inc. now owns 70,532 shares of the utilities provider’s stock worth $5,937,000 after purchasing an additional 9,918 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.2 %

NYSE WEC opened at $94.35 on Wednesday. The company has a market cap of $29.82 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.46 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $97.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The company has a 50-day moving average of $92.65 and a 200-day moving average of $85.08.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted $0.92 earnings per share. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.54%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Wall Street Analyst Weigh In

WEC has been the subject of a number of research analyst reports. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. KeyCorp upped their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Scotiabank raised their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Bank of America raised their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.92.

Insider Transactions at WEC Energy Group

In related news, VP Anthony Reese sold 1,362 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. This represents a 0.00 % 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. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the sale, the vice president now owns 1,462 shares in the company, valued at $129,796.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 in the last three months. 0.34% of the stock is currently owned by company insiders.

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.