Burling Wealth Partners LLC Sells 1,749 Shares of WEC Energy Group, Inc. $WEC

Burling Wealth Partners LLC lowered its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 12.9% in the second quarter, HoldingsChannel reports. The firm owned 11,812 shares of the utilities provider’s stock after selling 1,749 shares during the period. Burling Wealth Partners LLC’s holdings in WEC Energy Group were worth $1,231,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WEC. Verdence Capital Advisors LLC lifted its position in shares of WEC Energy Group by 1.6% in the second quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock valued at $595,000 after buying an additional 92 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of WEC Energy Group by 14.3% during the 1st quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 93 shares during the last quarter. Liberty Capital Management Inc. increased its holdings in shares of WEC Energy Group by 3.8% during the 2nd quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 97 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its stake in WEC Energy Group by 1.2% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 8,281 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 97 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in WEC Energy Group by 13.5% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 840 shares of the utilities provider’s stock valued at $88,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $111.60 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $36.30 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18. The company has a 50-day simple moving average of $112.82 and a two-hundred day simple moving average of $108.90.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The company had revenue of $2.28 billion for the quarter. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a $0.8925 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group’s payout ratio is currently 67.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup assumed coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price objective on the stock. Royal Bank Of Canada set a $131.00 target price on shares of WEC Energy Group in a research note on Monday, October 27th. Cowen assumed coverage on shares of WEC Energy Group in a research note on Wednesday, October 15th. They issued a “hold” rating on the stock. KeyCorp increased their price target on shares of WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, UBS Group boosted their price objective on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.21.

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.