Hsbc Holdings PLC Acquires 32,395 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Hsbc Holdings PLC raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 549,669 shares of the utilities provider’s stock after purchasing an additional 32,395 shares during the quarter. Hsbc Holdings PLC owned 0.17% of WEC Energy Group worth $43,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Confluence Investment Management LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at about $127,945,000. Envestnet Asset Management Inc. lifted its stake in shares of WEC Energy Group by 93.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after purchasing an additional 803,718 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of WEC Energy Group by 36.7% in the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of WEC Energy Group by 36.0% in the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after purchasing an additional 462,646 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of WEC Energy Group during the 1st quarter valued at approximately $23,297,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at $129,796.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WEC shares. Barclays lifted their price objective on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. KeyCorp lifted their price target on shares of WEC Energy Group from $95.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on WEC Energy Group in a research report on Thursday. They set a “hold” rating and a $102.00 target price for the company. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.31.

WEC Energy Group Trading Up 1.0 %

WEC opened at $94.72 on Friday. 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’s fifty day moving average is $89.76 and its two-hundred day moving average is $83.92. The company has a market capitalization of $29.91 billion, a P/E ratio of 20.68, a PEG ratio of 2.47 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $96.65.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast 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 declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were given a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.53%. WEC Energy Group’s payout ratio is presently 72.93%.

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.