WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,655 shares of the utilities provider’s stock after selling 8,197 shares during the period. 1834 Investment Advisors Co.’s holdings in WEC Energy Group were worth $6,927,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WEC. Mizuho Securities USA LLC lifted its holdings in shares of 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 valued at $2,500,680,000 after acquiring an additional 25,975,652 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of WEC Energy Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after purchasing an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 worth $462,276,000 after purchasing an additional 699,177 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. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of WEC Energy Group by 102.6% in 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. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $98.02 on Friday. The business has a 50 day simple moving average of $96.73 and a 200-day simple moving average of $93.76. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79. The company has a market capitalization of $31.01 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.41%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 1,805 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 over the last quarter. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

WEC has been the topic of a number of analyst reports. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. KeyCorp boosted their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank raised their price objective on 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. Finally, BMO Capital Markets upped their target price on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $98.40.

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.