WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Manufacturers Life Insurance Company

Manufacturers Life Insurance Co. acquired WEC Energy Group, Inc. during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). (NYSE:WEC – Free Report) increased its position by 15.6%. The fund owned 770,836 shares of the utility provider’s stock after acquiring an additional 104,050 shares during the period. According to its most recent filing with the Securities and Exchange Commission (SEC) Manufacturers Life Insurance Company owned 0.24% of WEC Energy Group worth $68,019,000.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of WEC Energy Group by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 7,008,729 shares of the utilities provider’s stock worth $616,906,000 after acquiring an additional 203,181 shares during the last quarter. Bank of America Corp DE increased its stake in WEC Energy Group by 8.4% during the 1st quarter. Bank of America Corp DE now owns 6,276,059 shares of the utilities provider’s stock worth $594,908,000 after buying an additional 487,972 shares during the last quarter. Magellan Asset Management Ltd. increased its stake in WEC Energy Group by 17.0% during the 2nd quarter. Magellan Asset Management Ltd. now owns 5,316,833 shares of the utilities provider’s stock worth $469,157,000 after purchasing an additional 772,372 shares during the last quarter. Morgan Stanley increased its stake in WEC Energy Group by 9.4% during the 4th quarter. Morgan Stanley now owns 3,236,416 shares of the utilities provider’s stock worth $303,446,000 after buying an additional 277,337 shares during the last quarter. Finally, Invesco Ltd. increased its stake in WEC Energy Group by 3.4% during the 1st quarter. Invesco Ltd. now owns 2,505,757 shares of the utilities provider’s stock worth $250,098,000 after purchasing an additional 83,354 shares during the last quarter. 75.75% of the stock is held by institutional investors and hedge funds.

WEC Energy Group Price Performance

WEC stock opened at $81.60 on Friday. The company has a current ratio of 0.60, quick ratio of 0.42 and debt-to-equity ratio of 1.32. The company has a market capitalization of $25.74 billion, a PE ratio of 18.85, a P/E/G ratio of 3.08 and a beta of 0.43. WEC Energy Group, Inc. has a 12-month low of $75.47 and a 12-month high of $101.11. The business’s fifty day moving average price is $82.00 and its 200 day moving average price is $86.04.

WEC Energy Group (NYSE:WEC – Get the Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The utility provider reported $1.00 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $0.91 by $0.09. The firm’s revenue for the quarter was $1.96 billion, compared to the consensus estimate of $2.03 billion. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.80%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. On average, sell-side analysts estimate that WEC Energy Group, Inc. Will report 4.61 EPS for the current year.

WEC Energy Group Dividend Declaration

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, November 13. This represents a $3.12 annual dividend and a yield of 3.82%. WEC Energy Group’s dividend payout ratio (DPR) is 72.06%.

Analyst Rating Changes

WEC has been the subject of several recent research reports. Royal Bank of Canada initiated coverage on WEC Energy Group in a research note on Wednesday, September 27th. They set a “Sector Perform” rating and a $95.00 price objective on the stock. Barclays lowered their price objective on WEC Energy Group from $83.00 to $81.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 24th. JPMorgan Chase & Co. increased their price objective on WEC Energy Group from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 16th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, KeyCorp lowered their target price on WEC Energy Group from $102.00 to $94.00 and set an “overweight” rating on the stock in a research report on Thursday, October 5th. Two investment analysts have given a sell rating to the stock, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat data, the stock currently has an average rating of “Hold” and an average target price of $90.17.

Check out our latest report on WEC

WEC Energy Group Profile

(free report)

WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and non-regulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate & Other.

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