WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 462.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 58,880 shares of the utilities provider’s stock after purchasing an additional 48,418 shares during the period. Investment Management Corp of Ontario’s holdings in WEC Energy Group were worth $5,537,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its position in WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of WEC Energy Group by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider’s stock valued at $756,423,000 after purchasing an additional 110,802 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of WEC Energy Group by 3.1% in the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider’s stock valued at $538,112,000 after purchasing an additional 173,006 shares during the period. JPMorgan Chase & Co. boosted its holdings in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after buying an additional 699,177 shares in the last quarter. Finally, Invesco Ltd. grew its position in WEC Energy Group by 7.9% during the fourth quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider’s stock valued at $396,114,000 after buying an additional 309,697 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WEC shares. BMO Capital Markets increased their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company increased their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $107.13.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $107.65 on Friday. The company has a fifty day simple moving average of $107.08 and a 200-day simple moving average of $101.44. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.60 and a beta of 0.46. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.97 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.33%. The ex-dividend date is Wednesday, May 14th. WEC Energy Group’s dividend payout ratio is presently 69.59%.

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.