Kolinsky Wealth Management LLC Acquires New Shares in WEC Energy Group, Inc. (NYSE:WEC)

Kolinsky Wealth Management LLC bought a new position in WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,155 shares of the utilities provider’s stock, valued at approximately $207,000.

Several other large investors have also recently bought and sold shares of the company. Czech National Bank raised its holdings in WEC Energy Group by 7.0% in the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after buying an additional 4,205 shares during the last quarter. DRW Securities LLC bought a new position in shares of WEC Energy Group during the third quarter valued at $1,392,000. Assenagon Asset Management S.A. lifted its holdings in shares of WEC Energy Group by 2,949.7% during the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock worth $18,204,000 after purchasing an additional 224,410 shares during the period. Atria Investments Inc grew its stake in shares of WEC Energy Group by 13.8% in the third quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider’s stock worth $6,047,000 after purchasing an additional 7,646 shares during the last quarter. Finally, RFG Advisory LLC increased its holdings in WEC Energy Group by 35.0% in the second quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock valued at $2,310,000 after purchasing an additional 7,640 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Down 0.8 %

NYSE WEC opened at $101.05 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The business has a 50 day moving average price of $97.33 and a 200-day moving average price of $89.42. The company has a market cap of $31.97 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 2.77 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business posted $1.00 EPS. WEC Energy Group’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.31%. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Wall Street Analyst Weigh In

A number of research firms have commented on WEC. Barclays upped their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. 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 target for the company. Bank of America boosted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets raised their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Three research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.45.

Insiders Place Their Bets

In related news, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at approximately $4,611,581.01. The trade was a 12.82 % 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 this link. Also, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,794 shares of company stock valued at $4,866,579. Corporate insiders own 0.34% of the company’s stock.

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.