Parallel Advisors LLC boosted its stake in WEC Energy Group Inc (NYSE:WEC) by 22.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,160 shares of the utilities provider’s stock after buying an additional 580 shares during the period. Parallel Advisors LLC’s holdings in WEC Energy Group were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEC. United Capital Management of KS Inc. lifted its holdings in WEC Energy Group by 0.8% in the 3rd quarter. United Capital Management of KS Inc. now owns 14,409 shares of the utilities provider’s stock valued at $1,372,000 after acquiring an additional 109 shares during the last quarter. First Allied Advisory Services Inc. lifted its holdings in WEC Energy Group by 2.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 4,734 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 112 shares during the last quarter. 6 Meridian lifted its stake in WEC Energy Group by 1.8% during the second quarter. 6 Meridian now owns 6,829 shares of the utilities provider’s stock valued at $569,000 after buying an additional 123 shares in the last quarter. Carroll Financial Associates Inc. lifted its stake in WEC Energy Group by 5.6% during the second quarter. Carroll Financial Associates Inc. now owns 2,345 shares of the utilities provider’s stock valued at $195,000 after buying an additional 125 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its stake in WEC Energy Group by 3.6% during the third quarter. Pinnacle Financial Partners Inc. now owns 3,655 shares of the utilities provider’s stock valued at $348,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 76.87% of the company’s stock.

WEC stock traded down $1.04 during mid-day trading on Friday, reaching $87.83. 2,267,914 shares of the stock traded hands, compared to its average volume of 1,694,081. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. WEC Energy Group Inc has a 52-week low of $66.75 and a 52-week high of $98.19. The company has a market cap of $28.70 billion, a P/E ratio of 26.30, a P/E/G ratio of 4.18 and a beta of -0.01. The stock’s fifty day moving average is $93.66 and its 200-day moving average is $87.58.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.68 billion. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts expect that WEC Energy Group Inc will post 3.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, November 13th. WEC Energy Group’s dividend payout ratio (DPR) is 70.66%.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Monday, September 16th. Credit Suisse Group lowered shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $84.00 to $85.00 in a research note on Tuesday, August 6th. They noted that the move was a valuation call. Guggenheim lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. They noted that the move was a valuation call. Wells Fargo & Co upped their price objective on shares of WEC Energy Group from $93.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Finally, UBS Group upped their price objective on shares of WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $86.50.

In other news, CEO Joseph Kevin Fletcher sold 27,105 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $95.69, for a total value of $2,593,677.45. Following the completion of the sale, the chief executive officer now directly owns 25,240 shares of the company’s stock, valued at $2,415,215.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mary Beth Straka sold 3,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $97.69, for a total transaction of $341,915.00. Following the completion of the sale, the vice president now directly owns 5,252 shares of the company’s stock, valued at $513,067.88. The disclosure for this sale can be found here. Insiders sold 157,615 shares of company stock valued at $15,163,723 over the last three months. 0.75% of the stock is owned by insiders.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated 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 and Other.

Further Reading: Swap

Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group Inc (NYSE:WEC).

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.