WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 632,184 shares of the utilities provider’s stock after selling 37,391 shares during the period. Renaissance Technologies LLC owned 0.20% of WEC Energy Group worth $49,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter worth approximately $25,000. Northwest Bank & Trust Co acquired a new stake in WEC Energy Group during the fourth quarter worth approximately $25,000. Global X Japan Co. Ltd. lifted its position in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at $29,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of WEC Energy Group in the 1st quarter valued at $32,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WEC. Scotiabank boosted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. KeyCorp boosted their target price on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Monday. Barclays lifted their price target on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.42.

Insiders Place Their Bets

In other news, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Stock Down 0.4 %

WEC stock opened at $95.74 on Wednesday. The stock has a market capitalization of $30.26 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. The company has a fifty day moving average of $88.87 and a 200-day moving average of $83.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.65.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

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.