SYSTM Wealth Solutions LLC Trims Holdings in WEC Energy Group, Inc. (NYSE:WEC)

SYSTM Wealth Solutions LLC lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 31.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 588 shares of the utilities provider’s stock after selling 269 shares during the period. SYSTM Wealth Solutions LLC’s holdings in WEC Energy Group were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Confluence Investment Management LLC bought a new position in shares of WEC Energy Group during the first quarter worth about $127,945,000. Envestnet Asset Management Inc. raised its stake in WEC Energy Group by 93.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after buying an additional 803,718 shares in the last quarter. American Century Companies Inc. lifted its holdings in WEC Energy Group by 36.7% during the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after buying an additional 688,812 shares during the last quarter. Earnest Partners LLC lifted its holdings in WEC Energy Group by 36.0% during the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after buying an additional 462,646 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of WEC Energy Group in the 1st quarter worth approximately $23,297,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’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 directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock valued at $1,078,058 over the last three months. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research note on Thursday. They set a “hold” rating and a $102.00 price objective on the stock. KeyCorp lifted their target price on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Bank of America increased their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.31.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $93.78 on Friday. The stock has a market cap of $29.62 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.47 and a beta of 0.44. The firm’s 50-day simple moving average is $89.48 and its 200 day simple moving average is $83.82. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $96.65. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $0.92 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were paid a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.56%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

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.