WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 58.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,981 shares of the utilities provider’s stock after selling 31,390 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in WEC Energy Group were worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in WEC. Czech National Bank boosted its stake in WEC Energy Group by 7.0% during the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after purchasing an additional 4,205 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of WEC Energy Group by 2,949.7% in the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock valued at $18,204,000 after buying an additional 224,410 shares during the period. Atria Investments Inc boosted its stake in WEC Energy Group by 13.8% during the third quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider’s stock valued at $6,047,000 after buying an additional 7,646 shares in the last quarter. RFG Advisory LLC raised its position in WEC Energy Group by 35.0% in the second quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock worth $2,310,000 after acquiring an additional 7,640 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in WEC Energy Group by 359.5% in the 1st quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock valued at $9,453,000 after acquiring an additional 90,062 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 43.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The trade was a 46.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WEC shares. KeyCorp lifted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays lifted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Bank of America upped their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Jefferies Financial Group started coverage on WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Finally, BMO Capital Markets upped their target price 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Stock Down 0.2 %

NYSE:WEC opened at $99.05 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $31.33 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 2.70 and a beta of 0.44. The business’s fifty day moving average price is $96.40 and its 200 day moving average price is $88.56. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.37%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

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.