Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in WEC Energy Group, Inc. (NYSE:WECFree Report) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,784 shares of the utilities provider’s stock after selling 6,423 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in WEC Energy Group were worth $21,651,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of WEC. Fairfield Bush & CO. purchased a new position in WEC Energy Group in the 1st quarter worth approximately $64,000. Raymond James Trust N.A. raised its position in shares of WEC Energy Group by 19.9% during the 1st quarter. Raymond James Trust N.A. now owns 6,272 shares of the utilities provider’s stock valued at $626,000 after buying an additional 1,040 shares during the period. Dimensional Fund Advisors LP raised its position in shares of WEC Energy Group by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 848,405 shares of the utilities provider’s stock valued at $84,682,000 after buying an additional 65,287 shares during the period. Allianz Asset Management GmbH raised its position in shares of WEC Energy Group by 10.2% during the 1st quarter. Allianz Asset Management GmbH now owns 34,679 shares of the utilities provider’s stock valued at $3,461,000 after buying an additional 3,224 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of WEC Energy Group by 11.8% during the 1st quarter. Cetera Investment Advisers now owns 8,765 shares of the utilities provider’s stock valued at $875,000 after buying an additional 923 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 600 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $83.46, for a total transaction of $50,076.00. Following the completion of the transaction, the director now owns 20,933 shares in the company, valued at $1,747,068.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on WEC shares. Barclays reduced their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday. Bank of America reissued an “underperform” rating and issued a $78.00 target price (down previously from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Royal Bank of Canada cut their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday. KeyCorp boosted their target price on WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Finally, Mizuho cut their target price on WEC Energy Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, December 18th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus target price of $86.17.

Check Out Our Latest Report on WEC

WEC Energy Group Stock Performance

Shares of WEC stock opened at $77.55 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $82.48 and a 200 day moving average price of $83.24. The company has a market cap of $24.46 billion, a P/E ratio of 18.38, a PEG ratio of 2.70 and a beta of 0.41. WEC Energy Group, Inc. has a 12 month low of $75.47 and a 12 month high of $99.26.

WEC Energy Group (NYSE:WECGet Free Report) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Sell-side analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Tuesday, February 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.78. WEC Energy Group’s payout ratio is presently 73.93%.

WEC Energy Group Company Profile

(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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