Marks Group Wealth Management Inc Cuts Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Marks Group Wealth Management Inc lowered its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,764 shares of the utilities provider’s stock after selling 143 shares during the quarter. Marks Group Wealth Management Inc’s holdings in WEC Energy Group were worth $1,228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Global X Japan Co. Ltd. lifted its position in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new stake in WEC Energy Group in the 2nd quarter worth approximately $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $31,000. ESL Trust Services LLC bought a new position in shares of WEC Energy Group during the 1st quarter valued at approximately $37,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the second quarter valued at $36,000. Institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WEC shares. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. KeyCorp boosted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their price objective 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. Finally, Barclays boosted their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $96.01 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The stock’s fifty day moving average is $95.72 and its two-hundred day moving average is $87.56. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. The company has a market capitalization of $30.37 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44.

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

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $340,712.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.