Twin Capital Management Inc. Cuts Position in WEC Energy Group Inc (NYSE:WEC)

Twin Capital Management Inc. lessened its holdings in WEC Energy Group Inc (NYSE:WEC) by 51.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,480 shares of the utilities provider’s stock after selling 36,690 shares during the quarter. Twin Capital Management Inc.’s holdings in WEC Energy Group were worth $2,875,000 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. M Holdings Securities Inc. grew its holdings in shares of WEC Energy Group by 574.7% during the first quarter. M Holdings Securities Inc. now owns 27,001 shares of the utilities provider’s stock valued at $2,135,000 after buying an additional 22,999 shares during the last quarter. GWM Advisors LLC grew its holdings in shares of WEC Energy Group by 8.6% during the first quarter. GWM Advisors LLC now owns 184,081 shares of the utilities provider’s stock valued at $569,000 after buying an additional 14,597 shares during the last quarter. Alphasimplex Group LLC purchased a new stake in shares of WEC Energy Group during the first quarter valued at approximately $399,000. California Public Employees Retirement System grew its holdings in shares of WEC Energy Group by 17.9% during the first quarter. California Public Employees Retirement System now owns 1,974,669 shares of the utilities provider’s stock valued at $156,157,000 after buying an additional 300,440 shares during the last quarter. Finally, O Shares Investment Advisers LLC grew its holdings in shares of WEC Energy Group by 3.0% during the first quarter. O Shares Investment Advisers LLC now owns 13,974 shares of the utilities provider’s stock valued at $1,105,000 after buying an additional 408 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

WEC stock traded down $0.17 on Friday, hitting $90.52. The company had a trading volume of 60,403 shares, compared to its average volume of 1,900,684. WEC Energy Group Inc has a 12-month low of $64.96 and a 12-month high of $90.93. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock’s 50-day simple moving average is $86.41 and its 200 day simple moving average is $80.58. The stock has a market cap of $28.29 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 4.31 and a beta of 0.11.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Monday, August 5th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Research analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.61%. The ex-dividend date is Tuesday, August 13th. WEC Energy Group’s dividend payout ratio is currently 70.66%.

In other WEC Energy Group news, Chairman Gale E. Klappa sold 52,306 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $81.31, for a total value of $4,253,000.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gale E. Klappa sold 61,350 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $81.30, for a total transaction of $4,987,755.00. The disclosure for this sale can be found here. Insiders sold 545,166 shares of company stock worth $45,236,812 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on WEC shares. Wolfe Research set a $77.00 price target on shares of WEC Energy Group and gave the company a “sell” rating in a report on Friday, April 26th. Scotiabank cut shares of WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $76.00 to $78.00 in a report on Wednesday, May 8th. Bank of America cut shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their price target for the company from $82.00 to $85.00 in a report on Monday, June 24th. Credit Suisse Group cut shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their price target for the company from $84.00 to $85.00 in a report on Tuesday, August 6th. They noted that the move was a valuation call. Finally, KeyCorp started coverage on shares of WEC Energy Group in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $76.75.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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