Franklin Resources Inc. Boosts Position in WEC Energy Group, Inc. (NYSE:WEC)

Franklin Resources Inc. raised its position in WEC Energy Group, Inc. (NYSE:WECGet Rating) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,087,555 shares of the utilities provider’s stock after buying an additional 114,826 shares during the quarter. Franklin Resources Inc.’s holdings in WEC Energy Group were worth $109,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in WEC Energy Group by 1.6% in the first quarter. Vanguard Group Inc. now owns 39,535,251 shares of the utilities provider’s stock valued at $3,946,014,000 after buying an additional 604,000 shares during the last quarter. State Street Corp increased its holdings in shares of WEC Energy Group by 7.2% in the first quarter. State Street Corp now owns 18,466,413 shares of the utilities provider’s stock valued at $1,843,133,000 after purchasing an additional 1,232,877 shares during the period. Bank of America Corp DE increased its holdings in shares of WEC Energy Group by 2.3% in the first quarter. Bank of America Corp DE now owns 5,636,213 shares of the utilities provider’s stock valued at $562,551,000 after purchasing an additional 128,313 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of WEC Energy Group by 14.5% in the second quarter. JPMorgan Chase & Co. now owns 5,400,358 shares of the utilities provider’s stock valued at $543,494,000 after purchasing an additional 683,031 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of WEC Energy Group by 3.4% in the first quarter. Invesco Ltd. now owns 2,505,757 shares of the utilities provider’s stock valued at $250,098,000 after purchasing an additional 83,354 shares during the period. Hedge funds and other institutional investors own 75.03% of the company’s stock.

WEC Energy Group Stock Up 1.0 %

WEC Energy Group stock opened at $98.07 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.55 and a current ratio of 0.82. The firm has a market capitalization of $30.93 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 3.59 and a beta of 0.35. WEC Energy Group, Inc. has a fifty-two week low of $80.82 and a fifty-two week high of $108.39. The stock’s fifty day moving average is $92.02 and its two-hundred day moving average is $98.47.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be issued a $0.7275 dividend. This represents a $2.91 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, November 10th. WEC Energy Group’s dividend payout ratio (DPR) is 66.59%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WEC shares. Guggenheim dropped their target price on WEC Energy Group from $104.00 to $95.00 in a report on Monday, October 24th. Wells Fargo & Company dropped their target price on WEC Energy Group from $114.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. Mizuho dropped their target price on WEC Energy Group from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, October 17th. KeyCorp dropped their target price on WEC Energy Group from $109.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. Finally, Credit Suisse Group upped their price objective on WEC Energy Group from $89.00 to $93.00 and gave the stock an “underperform” rating in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.45.

Insider Buying and Selling at WEC Energy Group

In other news, Director Glen E. Tellock bought 1,000 shares of the stock in a transaction on Tuesday, November 8th. The shares were bought at an average price of $91.39 per share, with a total value of $91,390.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $91,390. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

About WEC Energy Group

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

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

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