Portside Wealth Group LLC Has $975,000 Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Portside Wealth Group LLC decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,135 shares of the utilities provider’s stock after selling 169 shares during the quarter. Portside Wealth Group LLC’s holdings in WEC Energy Group were worth $975,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WEC. Global X Japan Co. Ltd. boosted its position in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of WEC Energy Group in the 2nd quarter valued at $29,000. William B. Walkup & Associates Inc. acquired a new position in shares of WEC Energy Group during the 2nd quarter worth $31,000. Triad Wealth Partners LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter worth $36,000. Finally, ESL Trust Services LLC acquired a new stake in WEC Energy Group in the first quarter valued at about $37,000. 77.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WEC. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America increased their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. Scotiabank increased their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, 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 report on Tuesday, October 22nd. Three investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.45.

WEC Energy Group Price Performance

Shares of WEC opened at $97.61 on Friday. The business has a 50-day moving average of $95.87 and a 200-day moving average of $87.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $30.88 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $100.31.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $1.00 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate 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 issued 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 3.42%. WEC Energy Group’s payout ratio is currently 81.66%.

Insider Transactions at WEC Energy Group

In related news, 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 transaction of $301,449.60. Following the sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.