Second Line Capital LLC Purchases New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Second Line Capital LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,193 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Global X Japan Co. Ltd. grew its stake in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Coastline Trust Co bought a new position in shares of WEC Energy Group during the third quarter valued at $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the 2nd quarter worth about $31,000. Triad Wealth Partners LLC bought a new position in WEC Energy Group in the 2nd quarter worth about $36,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in WEC Energy Group during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.0 %

Shares of WEC Energy Group stock opened at $97.15 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The company’s fifty day simple moving average is $97.69 and its 200-day simple moving average is $90.09. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $30.73 billion, a PE ratio of 23.75, a P/E/G ratio of 2.63 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. 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 company posted $1.00 earnings per share. WEC Energy Group’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.8925 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, February 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.67%. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Analyst Ratings Changes

Several research analysts have recently issued reports on WEC shares. StockNews.com upgraded 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 WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. Wells Fargo & Company upped their price target on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Scotiabank lifted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday. Finally, BMO Capital Markets upped their target price on shares of WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.18.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the transaction, the director now owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

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.