WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% in the third quarter, HoldingsChannel.com reports. The fund owned 58,139 shares of the utilities provider’s stock after selling 796 shares during the period. WEC Energy Group makes up about 2.1% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 13th biggest position. Stoneridge Investment Partners LLC’s holdings in WEC Energy Group were worth $5,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Czech National Bank raised its position in shares of WEC Energy Group by 7.0% during the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock worth $6,193,000 after purchasing an additional 4,205 shares during the last quarter. Empowered Funds LLC increased its stake in WEC Energy Group by 139.6% during the 1st quarter. Empowered Funds LLC now owns 30,792 shares of the utilities provider’s stock worth $2,529,000 after buying an additional 17,938 shares in the last quarter. Duality Advisers LP raised its holdings in shares of WEC Energy Group by 69.8% during the first quarter. Duality Advisers LP now owns 54,659 shares of the utilities provider’s stock valued at $4,489,000 after acquiring an additional 22,478 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of WEC Energy Group by 335.4% in the first quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock valued at $4,442,000 after acquiring an additional 41,668 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of WEC Energy Group by 20.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 423,718 shares of the utilities provider’s stock worth $34,796,000 after acquiring an additional 71,439 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 0.7 %

Shares of WEC Energy Group stock opened at $94.91 on Tuesday. The stock has a 50 day moving average of $95.59 and a 200 day moving average of $87.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a market capitalization of $30.00 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.46 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping 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 firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the company posted $1.00 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.52%. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Insider Transactions at WEC Energy Group

In related news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,352 shares of company stock valued at $1,046,645. 0.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group started coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. Bank of America increased their target price 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. Barclays boosted their price target 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. BMO Capital Markets raised their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.45.

About WEC Energy Group

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.