Mackenzie Financial Corp Sells 699 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mackenzie Financial Corp lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,149 shares of the utilities provider’s stock after selling 699 shares during the period. Mackenzie Financial Corp’s holdings in WEC Energy Group were worth $2,201,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG grew its position in shares of WEC Energy Group by 3.0% in the 3rd quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock valued at $442,697,000 after buying an additional 158,652 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of WEC Energy Group by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock valued at $346,021,000 after purchasing an additional 142,412 shares in the last quarter. Invesco Ltd. boosted its position in shares of WEC Energy Group by 3.8% during the 3rd quarter. Invesco Ltd. now owns 4,216,264 shares of the utilities provider’s stock valued at $339,620,000 after purchasing an additional 155,437 shares in the last quarter. Morgan Stanley boosted its position in shares of WEC Energy Group by 1.4% during the 3rd quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider’s stock valued at $270,179,000 after purchasing an additional 44,797 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of WEC Energy Group by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,851,616 shares of the utilities provider’s stock valued at $149,148,000 after purchasing an additional 40,603 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $81.97 on Wednesday. The company has a market cap of $25.86 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.40. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $98.80. The business has a 50 day moving average price of $79.97 and a 200-day moving average price of $81.41. 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 (NYSE:WEC) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.17% and a net margin of 14.98%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 79.15%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price on the stock. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. 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 set a $78.00 price target (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Finally, KeyCorp upped their price target on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.64.

Insider Activity at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction that occurred on 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 $3,402,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.