WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,740 shares of the utilities provider’s stock after selling 3,050 shares during the period. Meyer Handelman Co.’s holdings in WEC Energy Group were worth $2,278,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $26,000. Valued Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $28,000. First United Bank & Trust acquired a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $33,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

WEC stock opened at $78.23 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $24.71 billion, a PE ratio of 17.08, a P/E/G ratio of 2.05 and a beta of 0.42. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37. The business’s fifty day moving average price is $81.53 and its 200 day moving average price is $81.28.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the business earned $1.61 EPS. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were given a $0.835 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.27%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Analyst Upgrades and Downgrades

WEC has been the topic of a number of recent research reports. KeyCorp boosted their price objective on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. The Goldman Sachs Group initiated coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective on the stock. BMO Capital Markets boosted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Scotiabank lowered their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $85.92.

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.