WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 18.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,085 shares of the utilities provider’s stock after selling 26,301 shares during the quarter. Toronto Dominion Bank’s holdings in WEC Energy Group were worth $10,635,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $28,000. Hoey Investments Inc. acquired a new position in WEC Energy Group during the fourth quarter worth approximately $42,000. Human Investing LLC purchased a new position in WEC Energy Group during the fourth quarter worth approximately $52,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after buying an additional 345 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 0.2%

WEC opened at $107.50 on Wednesday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock has a market capitalization of $34.31 billion, a PE ratio of 22.26, a P/E/G ratio of 2.60 and a beta of 0.46. The firm’s fifty day moving average price is $107.02 and its 200 day moving average price is $101.87.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. During the same quarter in the previous year, the firm earned $1.97 EPS. The company’s revenue was up 17.5% on a year-over-year basis. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.8975 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.34%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio is presently 69.59%.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WEC has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and upped their target price for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $107.13.

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.