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

Brooklyn Investment Group bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,222 shares of the utilities provider’s stock, valued at approximately $118,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its holdings in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of WEC Energy Group in the second quarter worth $29,000. Coastline Trust Co purchased a new stake in shares of WEC Energy Group in the third quarter worth $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of WEC Energy Group in the second quarter worth $36,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $101.83 on Thursday. The firm has a 50-day moving average price of $97.05 and a 200-day moving average price of $89.22. The firm has a market capitalization of $32.21 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.46 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 $102.79.

WEC Energy Group (NYSE:WEC) last released 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 during the quarter, compared to analyst estimates 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 last year, the business earned $1.00 EPS. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WEC shares. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 target price for the company. Scotiabank raised their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets increased their price objective 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.45.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 46.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,034 shares of company stock valued at $5,168,029 in the last 90 days. Company insiders own 0.34% of the company’s stock.

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.