1834 Investment Advisors Co. Trims Position in WEC Energy Group, Inc. (NYSE:WEC)

1834 Investment Advisors Co. lowered its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 81,852 shares of the utilities provider’s stock after selling 604 shares during the period. 1834 Investment Advisors Co.’s holdings in WEC Energy Group were worth $7,872,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in WEC Energy Group in the first quarter valued at approximately $474,000. Private Advisor Group LLC boosted its position in WEC Energy Group by 54.9% during the 1st quarter. Private Advisor Group LLC now owns 25,258 shares of the utilities provider’s stock worth $2,074,000 after purchasing an additional 8,955 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in WEC Energy Group by 63.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,397 shares of the utilities provider’s stock valued at $8,793,000 after purchasing an additional 38,112 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of WEC Energy Group by 2.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,299 shares of the utilities provider’s stock worth $4,870,000 after buying an additional 1,584 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in WEC Energy Group in the 1st quarter worth approximately $53,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the firm’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 of the company’s stock, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,990 shares of company stock valued at $925,727. Company insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America raised 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. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group began coverage on shares of 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. 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. Finally, Scotiabank increased their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.45.

WEC Energy Group Trading Up 1.3 %

WEC Energy Group stock opened at $96.10 on Wednesday. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $30.40 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.44 and a beta of 0.44. The firm has a 50-day moving average price of $95.66 and a two-hundred day moving average price of $87.51.

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

WEC Energy Group Announces Dividend

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 given a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.48%. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

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.