Vanguard Group Inc. Lowers Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Vanguard Group Inc. reduced its position in WEC Energy Group, Inc. (NYSE:WECFree Report) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,863,666 shares of the utilities provider’s stock after selling 219,124 shares during the period. Vanguard Group Inc. owned approximately 13.27% of WEC Energy Group worth $3,372,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WEC. Fairfield Bush & CO. acquired a new position in WEC Energy Group during the 1st quarter worth approximately $64,000. Raymond James Trust N.A. lifted its position in 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 worth $626,000 after acquiring an additional 1,040 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $84,682,000 after acquiring an additional 65,287 shares in the last quarter. Allianz Asset Management GmbH lifted its position in 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 worth $3,461,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in WEC Energy Group by 11.8% during the 1st quarter. Cetera Investment Advisers now owns 8,765 shares of the utilities provider’s stock worth $875,000 after acquiring an additional 923 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 0.5 %

Shares of WEC Energy Group stock opened at $80.78 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The firm has a market cap of $25.48 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.81 and a beta of 0.40. The business has a fifty day simple moving average of $79.93 and a 200-day simple moving average of $81.94. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $99.26.

WEC Energy Group (NYSE:WECGet Free Report) last announced its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business posted $0.80 earnings per share. WEC Energy Group’s revenue was down 13.3% compared to the same quarter last year. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 14th were given a dividend of $0.835 per share. The ex-dividend date was Tuesday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.78. This represents a $3.34 dividend on an annualized basis and a yield of 4.13%. WEC Energy Group’s dividend payout ratio (DPR) is presently 79.15%.

Insiders Place Their Bets

In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays cut their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Bank of America reaffirmed an “underperform” rating and issued a $78.00 target price (down from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. KeyCorp upped 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, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.17.

Read Our Latest Stock 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 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

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

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