GAM Holding AG Makes New $1.43 Million Investment in WEC Energy Group, Inc. $WEC

GAM Holding AG acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,729 shares of the utilities provider’s stock, valued at approximately $1,431,000.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in WEC Energy Group in the 1st quarter worth about $25,000. Nova Wealth Management Inc. acquired a new position in shares of WEC Energy Group during the 1st quarter worth approximately $26,000. Bayforest Capital Ltd acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group during the 1st quarter worth approximately $28,000. Finally, WPG Advisers LLC acquired a new position in shares of WEC Energy Group during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

NYSE:WEC opened at $111.74 on Friday. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $118.18. The stock has a market cap of $35.97 billion, a PE ratio of 21.12, a P/E/G ratio of 3.17 and a beta of 0.47. The stock has a 50 day moving average price of $111.92 and a 200 day moving average price of $108.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The business had revenue of $2.28 billion during the quarter. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WEC shares. Barclays upped their price objective on shares of WEC Energy Group from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday. Scotiabank upped their price target on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. Cowen assumed coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating for the company. Finally, Royal Bank Of Canada set a $131.00 target price on WEC Energy Group in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, WEC Energy Group has a consensus rating of “Moderate Buy” and a consensus price target of $120.21.

Insider Activity

In other news, Director Gale E. Klappa sold 5,960 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $110.98, for a total transaction of $661,440.80. Following the completion of the sale, the director owned 274,969 shares in the company, valued at $30,516,059.62. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president owned 6,606 shares of the company’s stock, valued at $734,190.84. This represents a 47.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,741 shares of company stock worth $2,523,854 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

About WEC Energy Group

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.