Keybank National Association OH decreased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,100 shares of the utilities provider’s stock after selling 13,995 shares during the quarter. Keybank National Association OH’s holdings in WEC Energy Group were worth $5,145,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of WEC Energy Group by 1.7% during the second quarter. Vanguard Group Inc. now owns 39,434,643 shares of the utilities provider’s stock worth $3,287,666,000 after purchasing an additional 659,769 shares during the period. BlackRock Inc. raised its position in WEC Energy Group by 2.0% during the second quarter. BlackRock Inc. now owns 28,158,196 shares of the utilities provider’s stock valued at $2,347,547,000 after acquiring an additional 550,839 shares in the last quarter. Magellan Asset Management Ltd raised its position in WEC Energy Group by 456.9% during the second quarter. Magellan Asset Management Ltd now owns 6,826,069 shares of the utilities provider’s stock valued at $569,089,000 after acquiring an additional 5,600,357 shares in the last quarter. Wells Fargo & Company MN raised its position in WEC Energy Group by 2.1% during the second quarter. Wells Fargo & Company MN now owns 6,691,060 shares of the utilities provider’s stock valued at $557,833,000 after acquiring an additional 135,323 shares in the last quarter. Finally, Invesco Ltd. raised its position in WEC Energy Group by 4.0% during the second quarter. Invesco Ltd. now owns 3,865,423 shares of the utilities provider’s stock valued at $322,259,000 after acquiring an additional 147,139 shares in the last quarter. 76.87% of the stock is owned by hedge funds and other institutional investors.
Shares of WEC Energy Group stock traded down $1.04 on Friday, reaching $87.83. The company’s stock had a trading volume of 2,267,914 shares, compared to its average volume of 1,694,081. The company has a market capitalization of $28.70 billion, a P/E ratio of 26.30, a PEG ratio of 4.18 and a beta of -0.01. WEC Energy Group Inc has a 52-week low of $66.75 and a 52-week high of $98.19. The stock has a 50-day moving average price of $93.66 and a 200-day moving average price of $87.58. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 0.98.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Sell-side analysts forecast that WEC Energy Group Inc will post 3.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, November 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.
In other news, Chairman Gale E. Klappa sold 90,610 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $96.43, for a total value of $8,737,522.30. Following the completion of the sale, the chairman now directly owns 236,725 shares in the company, valued at $22,827,391.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $97.69, for a total value of $341,915.00. Following the completion of the sale, the vice president now owns 5,252 shares of the company’s stock, valued at $513,067.88. The disclosure for this sale can be found here. Insiders sold 157,615 shares of company stock valued at $15,163,723 over the last 90 days. Company insiders own 0.75% of the company’s stock.
Several research analysts recently weighed in on WEC shares. ValuEngine cut WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price target on WEC Energy Group from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $84.00 to $85.00 in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted their price target on WEC Energy Group from $93.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $86.50.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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