WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 409,990 shares of the utilities provider’s stock after selling 28,866 shares during the quarter. Victory Capital Management Inc.’s holdings in WEC Energy Group were worth $39,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WEC. Global X Japan Co. Ltd. lifted its position in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at $31,000. Triad Wealth Partners LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at $36,000. Finally, ESL Trust Services LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter valued at $37,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Up 1.9 %

NYSE WEC opened at $97.98 on Friday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $31.00 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.44. The firm’s fifty day simple moving average is $96.15 and its 200-day simple moving average is $88.15.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the business posted $1.00 earnings per share. WEC Energy Group’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEC. Scotiabank increased their price objective 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 began coverage on WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Barclays increased their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. KeyCorp increased their target price on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $94.45.

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. The trade was a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.