Sagefield Capital LP Raises Position in WEC Energy Group, Inc. (NYSE:WEC)

Sagefield Capital LP increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 113.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,147 shares of the utilities provider’s stock after purchasing an additional 35,686 shares during the quarter. Sagefield Capital LP’s holdings in WEC Energy Group were worth $5,268,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WEC. Northwest Bank & Trust Co bought a new stake in shares of WEC Energy Group in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter valued at about $25,000. Global X Japan Co. Ltd. boosted its position in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group in the second quarter worth about $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of WEC Energy Group in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now directly 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 three months, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Trading Up 0.5 %

Shares of WEC opened at $95.18 on Tuesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $96.65. The company has a market capitalization of $30.06 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.47 and a beta of 0.44. 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 firm’s 50 day simple moving average is $90.07 and its 200 day simple moving average is $84.06.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $0.92 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on WEC. 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 report on Tuesday, August 20th. Barclays lifted their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Wells Fargo & Company lifted their target price on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, BMO Capital Markets increased their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock 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.