Northwestern Mutual Wealth Management Co. Buys 2,333 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Northwestern Mutual Wealth Management Co. grew its stake in WEC Energy Group, Inc. (NYSE:WEC) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,425 shares of the utilities provider’s stock after purchasing an additional 2,333 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in WEC Energy Group were worth $2,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Duff & Phelps Investment Management Co. grew its stake in shares of WEC Energy Group by 5.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,223,185 shares of the utilities provider’s stock valued at $95,971,000 after buying an additional 58,695 shares during the last quarter. Scientech Research LLC grew its position in WEC Energy Group by 35.9% in the 2nd quarter. Scientech Research LLC now owns 8,368 shares of the utilities provider’s stock valued at $657,000 after acquiring an additional 2,210 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in WEC Energy Group in the second quarter worth $1,802,000. Dark Forest Capital Management LP bought a new stake in shares of WEC Energy Group during the second quarter worth $205,000. Finally, Drucker Wealth 3.0 LLC purchased a new stake in shares of WEC Energy Group during the second quarter valued at $1,539,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. 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 Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction dated 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 owns 21,876 shares in the company, valued at approximately $1,934,932.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock worth $1,078,058 over the last three months. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Down 0.9 %

Shares of NYSE:WEC opened at $95.48 on Friday. The company has a market capitalization of $30.18 billion, a PE ratio of 20.85, a P/E/G ratio of 2.48 and a beta of 0.44. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $97.08. The business’s fifty day simple moving average is $92.45 and its 200-day simple moving average is $84.93.

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

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.50%. WEC Energy Group’s payout ratio is 72.93%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several recent analyst reports. Barclays raised 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 note on Tuesday, August 6th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Scotiabank boosted their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Finally, KeyCorp upped their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $92.67.

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.