WEC Energy Group, Inc. (NYSE:WEC) Stock Position Raised by Mattern Capital Management LLC

Mattern Capital Management LLC raised its stake in WEC Energy Group, Inc. (NYSE:WECFree Report) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,867 shares of the utilities provider’s stock after purchasing an additional 7,169 shares during the period. Mattern Capital Management LLC’s holdings in WEC Energy Group were worth $5,789,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quilter Plc bought a new stake in WEC Energy Group in the 1st quarter valued at $234,348,000. Achmea Investment Management B.V. bought a new stake in WEC Energy Group in the 1st quarter valued at $27,000. First Manhattan Co. lifted its holdings in shares of WEC Energy Group by 102.0% during the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 153 shares during the period. Center for Financial Planning Inc. bought a new position in shares of WEC Energy Group during the 2nd quarter worth about $33,000. Finally, VitalStone Financial LLC bought a new position in shares of WEC Energy Group during the 2nd quarter worth about $35,000. 75.75% of the stock is owned by institutional investors.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 600 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $83.46, for a total transaction of $50,076.00. Following the completion of the sale, the director now owns 20,933 shares in the company, valued at approximately $1,747,068.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Barclays reduced their price objective on shares of WEC Energy Group from $82.00 to $79.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Guggenheim reduced their price objective on shares of WEC Energy Group from $94.00 to $84.00 in a report on Monday, October 9th. Finally, Wells Fargo & Company reduced their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.92.

View Our Latest Research Report on WEC Energy Group

WEC Energy Group Price Performance

WEC traded down $1.24 during midday trading on Monday, hitting $78.62. The company had a trading volume of 300,800 shares, compared to its average volume of 2,760,002. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market capitalization of $24.80 billion, a PE ratio of 18.92, a P/E/G ratio of 2.77 and a beta of 0.41. WEC Energy Group, Inc. has a twelve month low of $75.47 and a twelve month high of $99.26. The firm’s 50-day simple moving average is $83.03 and its 200-day simple moving average is $83.74.

WEC Energy Group (NYSE:WECGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. Equities research analysts predict that WEC Energy Group, Inc. will post 4.89 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.835 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.25%. WEC Energy Group’s payout ratio is currently 73.93%.

WEC Energy Group Profile

(Free Report)

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.

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

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