Assenagon Asset Management S.A. Sells 82,213 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Assenagon Asset Management S.A. lessened its holdings in WEC Energy Group, Inc. (NYSE:WECFree Report) by 91.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,826 shares of the utilities provider’s stock after selling 82,213 shares during the quarter. Assenagon Asset Management S.A.’s holdings in WEC Energy Group were worth $630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WEC. Renaissance Technologies LLC raised its stake in WEC Energy Group by 563.3% during the first quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock valued at $131,757,000 after buying an additional 1,121,075 shares during the last quarter. Magellan Asset Management Ltd boosted its stake in WEC Energy Group by 17.0% in 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 in the last quarter. Bank of Montreal Can purchased a new stake in WEC Energy Group during the 2nd quarter valued at about $51,851,000. Jupiter Asset Management Ltd. bought a new stake in WEC Energy Group during the 2nd quarter valued at about $47,400,000. Finally, Virginia Retirement Systems ET AL purchased a new position in WEC Energy Group in the second quarter worth about $42,678,000. Institutional investors own 75.75% of the company’s stock.

WEC Energy Group Stock Up 0.4 %

WEC stock opened at $78.34 on Wednesday. The business’s 50-day moving average price is $82.85 and its 200-day moving average price is $83.55. The stock has a market cap of $24.71 billion, a P/E ratio of 18.56, a PEG ratio of 2.71 and a beta of 0.41. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a twelve month low of $75.47 and a twelve month high of $99.26.

WEC Energy Group (NYSE:WECGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s revenue was down 13.3% on a year-over-year basis. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 14th will be paid a $0.835 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, February 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.26%. WEC Energy Group’s dividend payout ratio is 73.93%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WEC shares. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. KeyCorp upped their price target on WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Barclays reduced their price objective on WEC Energy Group from $82.00 to $79.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. Mizuho lowered their target price on shares of WEC Energy Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, December 18th. Finally, JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $86.92.

Get Our Latest Analysis on WEC

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $83.46, for a total value of $50,076.00. Following the transaction, the director now directly owns 20,933 shares of the company’s stock, valued at approximately $1,747,068.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

About WEC Energy Group

(Free Report)

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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