Highview Capital Management LLC DE Takes Position in WEC Energy Group, Inc. $WEC

Highview Capital Management LLC DE purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,635 shares of the utilities provider’s stock, valued at approximately $1,108,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Greenland Capital Management LP purchased a new position in shares of WEC Energy Group during the second quarter worth $13,317,000. Vanguard Group Inc. raised its position in shares of WEC Energy Group by 2.1% in the second quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock worth $4,162,348,000 after acquiring an additional 816,243 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in shares of WEC Energy Group by 40.4% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 40,781 shares of the utilities provider’s stock worth $4,249,000 after acquiring an additional 11,729 shares in the last quarter. Thomas Story & Son LLC grew its position in shares of WEC Energy Group by 6.7% during the 2nd quarter. Thomas Story & Son LLC now owns 92,790 shares of the utilities provider’s stock valued at $9,669,000 after acquiring an additional 5,855 shares during the period. Finally, MTM Investment Management LLC raised its holdings in WEC Energy Group by 3.6% in the 2nd quarter. MTM Investment Management LLC now owns 2,720 shares of the utilities provider’s stock worth $283,000 after purchasing an additional 95 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of WEC stock opened at $111.66 on Wednesday. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The company has a market capitalization of $36.32 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 3.15 and a beta of 0.48. The firm’s 50-day moving average is $113.06 and its two-hundred day moving average is $108.95.

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

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s payout ratio is 67.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WEC shares. KeyCorp upped their target price on WEC Energy Group from $110.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Citigroup began coverage on WEC Energy Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a research report on Thursday, November 13th. Finally, Scotiabank boosted 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, October 31st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $120.21.

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.