Trust Co. of Toledo NA OH Cuts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Trust Co. of Toledo NA OH lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,089 shares of the utilities provider’s stock after selling 400 shares during the period. Trust Co. of Toledo NA OH’s holdings in WEC Energy Group were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in WEC Energy Group by 2.9% during the 4th quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock worth $342,669,000 after purchasing an additional 116,219 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WEC Energy Group by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock worth $149,635,000 after purchasing an additional 51,540 shares during the last quarter. Earnest Partners LLC boosted its stake in WEC Energy Group by 36.0% during the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after purchasing an additional 462,646 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in WEC Energy Group by 93.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after purchasing an additional 803,718 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new position in shares of WEC Energy Group during the 1st quarter valued at about $127,945,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WEC shares. Barclays boosted their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. KeyCorp lowered their price target on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of WEC Energy Group from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.31.

WEC Energy Group Trading Up 0.3 %

NYSE:WEC traded up $0.28 on Tuesday, reaching $88.47. 2,211,586 shares of the company’s stock were exchanged, compared to its average volume of 2,176,239. The company has a quick ratio of 0.42, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $27.96 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.33 and a beta of 0.41. The business has a fifty day moving average of $80.64 and a 200-day moving average of $80.70. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $92.23.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The business’s quarterly 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 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.78%. WEC Energy Group’s payout ratio is 72.93%.

About WEC Energy Group

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.