WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 14.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of WEC Energy Group during the third quarter valued at approximately $45,000. Human Investing LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $52,000. Bank of Jackson Hole Trust acquired a new position in WEC Energy Group during the 4th quarter valued at approximately $59,000. Finally, Kestra Investment Management LLC bought a new position in WEC Energy Group during the 4th quarter worth $61,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Scotiabank boosted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. BMO Capital Markets raised their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Trading Up 1.1 %

Shares of NYSE:WEC opened at $106.07 on Wednesday. The company has a 50 day moving average of $98.19 and a 200-day moving average of $96.69. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm has a market cap of $33.55 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a twelve month low of $76.50 and a twelve month high of $106.75.

WEC Energy Group (NYSE:WEC) last announced 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). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 3.15%. WEC Energy Group’s dividend payout ratio (DPR) is 73.91%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following 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 legal 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 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.