Icon Wealth Advisors LLC Cuts Position in WEC Energy Group, Inc. (NYSE:WEC)

Icon Wealth Advisors LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 74.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,788 shares of the utilities provider’s stock after selling 8,166 shares during the period. Icon Wealth Advisors LLC’s holdings in WEC Energy Group were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WEC. Massmutual Trust Co. FSB ADV lifted its position in 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 buying an additional 111 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in WEC Energy Group by 2.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after purchasing an additional 117 shares during the last quarter. Global X Japan Co. Ltd. boosted its position in shares of 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 grew its stake in shares of 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 last quarter. Finally, Park National Corp OH raised its holdings in shares of WEC Energy Group by 3.4% in the third quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after buying an additional 130 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WEC has been the subject of a number of recent analyst reports. BMO Capital Markets boosted 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. Barclays upped their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Scotiabank raised their target price 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. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, KeyCorp lifted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Stock Down 0.3 %

Shares of WEC stock opened at $100.66 on Friday. The stock’s fifty day moving average price is $96.69 and its 200 day moving average price is $88.88. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $101.43. The company has a market cap of $31.84 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.73 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, research analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.32%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Transactions at WEC Energy Group

In other news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This represents a 43.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares in the company, valued at $27,204,570.88. The trade was a 12.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,314 shares of company stock worth $5,047,988. Company insiders own 0.34% of the company’s stock.

WEC Energy Group 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.