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

1834 Investment Advisors Co. reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of WEC. Capital Management Corp VA acquired a new position in shares of WEC Energy Group in the third quarter worth $212,000. Red Cedar Investment Management LLC grew its stake in WEC Energy Group by 389.6% during the 3rd quarter. Red Cedar Investment Management LLC now owns 18,993 shares of the utilities provider’s stock worth $1,827,000 after purchasing an additional 15,114 shares in the last quarter. QRG Capital Management Inc. increased its holdings in WEC Energy Group by 4.6% during the 3rd quarter. QRG Capital Management Inc. now owns 11,991 shares of the utilities provider’s stock worth $1,153,000 after purchasing an additional 529 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of WEC Energy Group by 3.3% during the third quarter. Asset Management One Co. Ltd. now owns 169,934 shares of the utilities provider’s stock worth $16,344,000 after buying an additional 5,427 shares during the period. Finally, WFA Asset Management Corp lifted its stake in WEC Energy Group by 14.7% in the third quarter. WFA Asset Management Corp now owns 3,089 shares of the utilities provider’s stock worth $297,000 after acquiring an additional 396 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WEC has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective on the stock. KeyCorp upped their price target on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Barclays boosted their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.45.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,990 shares of company stock worth $925,727 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Up 1.3 %

Shares of WEC Energy Group stock opened at $96.10 on Wednesday. The firm has a fifty day moving average of $95.66 and a two-hundred day moving average of $87.51. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $100.31. The company has a market cap of $30.40 billion, a P/E ratio of 23.50, a PEG ratio of 2.44 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. On average, analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently announced 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 yield of 3.48%. WEC Energy Group’s payout ratio is 81.66%.

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.