Brooklyn Investment Group Acquires Shares of 1,222 WEC Energy Group, Inc. (NYSE:WEC)

Brooklyn Investment Group acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,222 shares of the utilities provider’s stock, valued at approximately $118,000.

Other hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its position in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group in the second quarter valued at about $29,000. Coastline Trust Co purchased a new position in shares of WEC Energy Group in the third quarter valued at about $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction that occurred on 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 owns 45,709 shares in the company, valued at approximately $4,611,581.01. This trade represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,034 shares of company stock worth $5,168,029 over the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

WEC has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Scotiabank boosted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America boosted their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, KeyCorp boosted their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Trading Up 0.3 %

Shares of NYSE WEC opened at $101.83 on Thursday. The firm’s 50 day moving average price is $97.05 and its 200-day moving average price is $89.22. The company has a market cap of $32.21 billion, a PE ratio of 24.90, a P/E/G ratio of 2.76 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

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

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.28%. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

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.