WEC Energy Group, Inc. $WEC Shares Sold by Ethic Inc.

Ethic Inc. lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,498 shares of the utilities provider’s stock after selling 1,081 shares during the quarter. Ethic Inc.’s holdings in WEC Energy Group were worth $1,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEC. Nuveen LLC acquired a new stake in WEC Energy Group during the 1st quarter worth $403,372,000. Charles Schwab Investment Management Inc. boosted its stake in WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after purchasing an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 665,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in WEC Energy Group by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock worth $274,564,000 after purchasing an additional 430,269 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.1%

Shares of WEC opened at $115.83 on Friday. The firm has a market cap of $37.28 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 3.27 and a beta of 0.47. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $118.18. The company’s 50-day moving average price is $111.32 and its 200 day moving average price is $108.39. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The firm had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.1%. WEC Energy Group’s dividend payout ratio is 68.39%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WEC shares. Scotiabank boosted their price target on shares of WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday. Barclays boosted their price target on shares of WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Cowen started coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $118.83.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares in the company, valued at $2,259,960. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 5,960 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $110.98, for a total transaction of $661,440.80. Following the sale, the director owned 274,969 shares in the company, valued at $30,516,059.62. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is owned by company insiders.

WEC Energy Group Company 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.