Rockefeller Capital Management L.P. Increases Stock Holdings in WEC Energy Group, Inc. $WEC

Rockefeller Capital Management L.P. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 34.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,031 shares of the utilities provider’s stock after acquiring an additional 10,511 shares during the period. Rockefeller Capital Management L.P.’s holdings in WEC Energy Group were worth $4,276,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in WEC Energy Group by 2.8% during the second quarter. Geode Capital Management LLC now owns 8,594,608 shares of the utilities provider’s stock valued at $892,020,000 after buying an additional 235,653 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after acquiring an additional 1,349,522 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after acquiring an additional 726,267 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of WEC Energy Group by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock valued at $466,451,000 after acquiring an additional 33,810 shares in the last quarter. Finally, Northern Trust Corp boosted its position in WEC Energy Group by 4.9% during the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock worth $436,298,000 after purchasing an additional 188,057 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

WEC stock opened at $111.08 on Friday. The company has a market capitalization of $36.13 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.80 and a beta of 0.48. The company’s fifty day moving average price is $113.10 and its 200-day moving average price is $108.99. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $118.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The business had revenue of $2.28 billion during the quarter. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on WEC shares. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Barclays raised their price target on shares of WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Citigroup assumed coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price objective on the stock. Mizuho set a $125.00 price objective on shares of WEC Energy Group in a research report on Monday, October 27th. Finally, Cowen started coverage on WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.21.

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.