WEC Energy Group, Inc. (NYSE:WEC) Position Reduced by Wrapmanager Inc.

Wrapmanager Inc. reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,602 shares of the utilities provider’s stock after selling 448 shares during the period. Wrapmanager Inc.’s holdings in WEC Energy Group were worth $245,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mizuho Securities USA LLC grew its position in WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after buying an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after buying an additional 1,912,223 shares in the last quarter. JPMorgan Chase & Co. raised its position in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in WEC Energy Group by 57.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after acquiring an additional 695,317 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WEC. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Scotiabank increased their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.88.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC opened at $106.07 on Wednesday. The firm has a market cap of $33.55 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. The company’s fifty day moving average is $98.19 and its 200-day moving average is $96.69. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $76.50 and a 12 month high of $106.75.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a yield of 3.15%. WEC Energy Group’s dividend payout ratio (DPR) is currently 73.91%.

WEC Energy Group Company 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.