Weaver Capital Management LLC Decreases Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Weaver Capital Management LLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 43.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WEC. American Century Companies Inc. boosted its stake in shares of WEC Energy Group by 36.7% in the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after buying an additional 688,812 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of 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 acquiring an additional 462,646 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter worth $23,297,000. Raymond James & Associates lifted its position in WEC Energy Group by 26.0% during the third quarter. Raymond James & Associates now owns 1,283,994 shares of the utilities provider’s stock valued at $123,494,000 after purchasing an additional 264,654 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new position in WEC Energy Group during the second quarter valued at $20,431,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 0.7 %

Shares of WEC stock opened at $98.69 on Wednesday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. 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 stock’s 50-day moving average price is $94.58 and its 200-day moving average price is $86.33. The stock has a market capitalization 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 (NYSE:WEC) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal 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 paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.38%. WEC Energy Group’s payout ratio is currently 72.93%.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the sale, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock valued at $1,078,058 over the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WEC. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Scotiabank lifted their target price on 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. Jefferies Financial Group initiated coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective on the stock. KeyCorp boosted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Bank of America boosted their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Four research 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 currently has an average rating of “Hold” and a consensus target price of $94.45.

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.