Greenleaf Trust Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Greenleaf Trust grew its stake in shares of WEC Energy Group, Inc. (NYSE:WECGet Rating) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,411 shares of the utilities provider’s stock after buying an additional 398 shares during the quarter. Greenleaf Trust’s holdings in WEC Energy Group were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Azimuth Capital Investment Management LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $5,237,000. Axxcess Wealth Management LLC purchased a new position in WEC Energy Group in the 2nd quarter worth $232,000. Franklin Resources Inc. raised its position in WEC Energy Group by 11.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,087,555 shares of the utilities provider’s stock worth $109,451,000 after purchasing an additional 114,826 shares during the period. Rhumbline Advisers raised its position in WEC Energy Group by 10.4% in the 2nd quarter. Rhumbline Advisers now owns 571,856 shares of the utilities provider’s stock worth $57,552,000 after purchasing an additional 54,037 shares during the period. Finally, AlphaCrest Capital Management LLC raised its position in WEC Energy Group by 141.5% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 10,802 shares of the utilities provider’s stock worth $1,087,000 after purchasing an additional 6,330 shares during the period. Hedge funds and other institutional investors own 75.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $88.00 to $93.00 in a research report on Wednesday, November 2nd. Guggenheim decreased their target price on shares of WEC Energy Group from $104.00 to $95.00 in a research report on Monday, October 24th. Wells Fargo & Company decreased their target price on shares of WEC Energy Group from $114.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Credit Suisse Group lifted their target price on shares of WEC Energy Group from $89.00 to $93.00 and gave the stock an “underperform” rating in a research report on Thursday, November 3rd. Finally, StockNews.com assumed coverage on shares of WEC Energy Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $97.45.

WEC Energy Group Trading Up 1.0 %

Shares of WEC opened at $98.07 on Thursday. The firm’s 50-day moving average price is $92.02 and its 200-day moving average price is $98.47. The firm has a market capitalization of $30.93 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 3.59 and a beta of 0.35. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 1-year low of $80.82 and a 1-year high of $108.39.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be paid a dividend of $0.7275 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, November 10th. WEC Energy Group’s payout ratio is 66.59%.

Insider Activity

In related news, Director Glen E. Tellock bought 1,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average price of $91.39 per share, with a total value of $91,390.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $91,390. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

About WEC Energy Group

(Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

See Also

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.