Midwest Professional Planners LTD. Decreases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Midwest Professional Planners LTD. lessened its stake in WEC Energy Group, Inc. (NYSE:WECGet Rating) by 68.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,832 shares of the utilities provider’s stock after selling 8,470 shares during the quarter. Midwest Professional Planners LTD.’s holdings in WEC Energy Group were worth $372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of WEC Energy Group by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,105,916 shares of the utilities provider’s stock valued at $537,698,000 after buying an additional 256,632 shares during the period. Bank of America Corp DE raised its position in shares of WEC Energy Group by 5.1% during the 4th quarter. Bank of America Corp DE now owns 5,507,900 shares of the utilities provider’s stock worth $534,652,000 after acquiring an additional 265,437 shares in the last quarter. California Public Employees Retirement System raised its position in shares of WEC Energy Group by 0.9% during the 3rd quarter. California Public Employees Retirement System now owns 2,442,192 shares of the utilities provider’s stock worth $215,401,000 after acquiring an additional 20,652 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of WEC Energy Group by 61.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,119,235 shares of the utilities provider’s stock worth $186,917,000 after acquiring an additional 808,281 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of WEC Energy Group by 4.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,734,758 shares of the utilities provider’s stock worth $168,317,000 after acquiring an additional 75,083 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

WEC traded up $1.27 during trading on Friday, hitting $102.09. 1,582,001 shares of the stock were exchanged, compared to its average volume of 1,407,341. The firm has a market capitalization of $32.20 billion, a P/E ratio of 23.80, a PEG ratio of 3.85 and a beta of 0.27. WEC Energy Group, Inc. has a 1-year low of $86.84 and a 1-year high of $106.82. The stock has a fifty day moving average price of $99.95 and a two-hundred day moving average price of $95.38. The company has a quick ratio of 0.67, a current ratio of 0.79 and a debt-to-equity ratio of 1.18.

WEC Energy Group (NYSE:WECGet Rating) last announced its earnings results on Monday, May 2nd. The utilities provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.13. WEC Energy Group had a return on equity of 12.17% and a net margin of 15.90%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the business posted $1.61 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post 4.35 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be paid a $0.7275 dividend. The ex-dividend date is Thursday, May 12th. This represents a $2.91 annualized dividend and a dividend yield of 2.85%. WEC Energy Group’s dividend payout ratio (DPR) is currently 67.83%.

In other WEC Energy Group news, VP Anthony Reese sold 1,325 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $102.47, for a total value of $135,772.75. Following the transaction, the vice president now directly owns 905 shares in the company, valued at approximately $92,735.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Several equities research analysts have recently weighed in on WEC shares. StockNews.com started coverage on WEC Energy Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America raised WEC Energy Group from a “neutral” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Friday. Evercore ISI reissued a “hold” rating and set a $97.00 target price on shares of WEC Energy Group in a research report on Friday, February 4th. Credit Suisse Group began coverage on WEC Energy Group in a research report on Monday, April 25th. They set a “neutral” rating and a $108.00 target price on the stock. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $98.00 price target on shares of WEC Energy Group in a research report on Friday, February 4th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average price target of $102.50.

About WEC Energy Group (Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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