Weaver Capital Management LLC Sells 2,816 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Weaver Capital Management LLC reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 43.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,609 shares of the utilities provider’s stock after selling 2,816 shares during the period. Weaver Capital Management LLC’s holdings in WEC Energy Group were worth $347,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of WEC Energy Group by 5.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock worth $216,000 after acquiring an additional 111 shares during the period. Bradley Foster & Sargent Inc. CT boosted its stake in WEC Energy Group by 2.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock valued at $474,000 after buying an additional 117 shares during the period. Global X Japan Co. Ltd. boosted its stake in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the period. Drake & Associates LLC boosted its stake in WEC Energy Group by 2.0% during the third quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock valued at $598,000 after buying an additional 120 shares during the period. Finally, Park National Corp OH boosted its stake in WEC Energy Group by 3.4% during the third quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock valued at $381,000 after buying an additional 130 shares during the period. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $98.69 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average price of $94.58 and a 200-day moving average price of $86.33. The company has a market cap of $31.17 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.57 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results 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 return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $0.92 EPS. WEC Energy Group’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be issued a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.38%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Wall Street Analysts Forecast Growth

WEC has been the subject of several research analyst reports. KeyCorp lifted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America lifted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. Finally, Barclays raised their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $94.45.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,702 shares of company stock valued at $1,078,058. Company insiders own 0.34% of the company’s stock.

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.