Parr Mcknight Wealth Management Group LLC lowered its stake in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 56.6% during the third quarter, Holdings Channel.com reports. The fund owned 20,425 shares of the utilities provider’s stock after selling 26,689 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in WEC Energy Group were worth $2,058,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in WEC Energy Group by 3.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,734,979 shares of the utilities provider’s stock worth $436,133,000 after acquiring an additional 111,057 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of WEC Energy Group by 0.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,571,015 shares of the utilities provider’s stock worth $297,646,000 after purchasing an additional 7,206 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $299,100,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of WEC Energy Group by 5.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,644,319 shares of the utilities provider’s stock worth $192,007,000 after purchasing an additional 78,168 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of WEC Energy Group by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,286,276 shares of the utilities provider’s stock worth $148,906,000 after purchasing an additional 42,403 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.
WEC Energy Group Trading Down 1.2%
WEC Energy Group stock opened at $115.50 on Wednesday. The stock has a 50-day simple moving average of $106.22 and a 200 day simple moving average of $111.53. The stock has a market capitalization of $38.00 billion, a P/E ratio of 20.96, a PEG ratio of 2.41 and a beta of 0.43. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.36 and a current ratio of 0.53. WEC Energy Group, Inc. has a 52 week low of $99.80 and a 52 week high of $119.91.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. Analysts expect that WEC Energy Group, Inc. will post 5.61 earnings per share for the current year.
WEC Energy Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group’s payout ratio is presently 69.15%.
Insider Buying and Selling at WEC Energy Group
In related news, Director Ulice Payne, Jr. sold 980 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the sale, the director owned 19,588 shares in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on WEC. KeyCorp cut their price objective on WEC Energy Group from $117.00 to $111.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group lowered their target price on shares of WEC Energy Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Wednesday, October 21st. Scotiabank upped their price target on shares of WEC Energy Group from $117.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 30th. Finally, Royal Bank Of Canada decreased their price objective on shares of WEC Energy Group from $124.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday, October 26th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $118.00.
Check Out Our Latest Research Report on WEC Energy Group
WEC Energy Group Profile
WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.
WEC Energy’s principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.
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