Quadrant Capital Group LLC Sells 1,573 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Quadrant Capital Group LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 44.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,928 shares of the utilities provider’s stock after selling 1,573 shares during the quarter. Quadrant Capital Group LLC’s holdings in WEC Energy Group were worth $162,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WEC. Balentine LLC raised its holdings in WEC Energy Group by 2.7% during the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 131 shares during the last quarter. N.E.W. Advisory Services LLC raised its holdings in WEC Energy Group by 0.4% during the 4th quarter. N.E.W. Advisory Services LLC now owns 36,086 shares of the utilities provider’s stock worth $3,037,000 after purchasing an additional 132 shares during the last quarter. D.A. Davidson & CO. raised its holdings in WEC Energy Group by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 10,283 shares of the utilities provider’s stock worth $828,000 after purchasing an additional 144 shares during the last quarter. QRG Capital Management Inc. raised its holdings in WEC Energy Group by 2.1% during the 4th quarter. QRG Capital Management Inc. now owns 7,796 shares of the utilities provider’s stock worth $656,000 after purchasing an additional 164 shares during the last quarter. Finally, Carlson Capital Management raised its holdings in WEC Energy Group by 5.9% during the 3rd quarter. Carlson Capital Management now owns 3,011 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction 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 sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction 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 sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank lowered their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective for the company. Royal Bank of Canada lowered their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.29.

WEC Energy Group Price Performance

WEC opened at $84.58 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 2.42 and a beta of 0.40. The firm’s fifty day moving average price is $81.93 and its two-hundred day moving average price is $81.63. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $93.37.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. As a group, analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s payout ratio is 72.93%.

About WEC Energy Group

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.