WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank cut its position in WEC Energy Group, Inc. (NYSE:WEC) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,083 shares of the utilities provider’s stock after selling 1,306 shares during the quarter. Amalgamated Bank’s holdings in WEC Energy Group were worth $5,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Bank & Trust Co bought a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the first quarter valued at about $25,000. Global X Japan Co. Ltd. increased its stake in 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 valued at $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter worth about $29,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $32,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 completion of the sale, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,702 shares of company stock valued at $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WEC shares. Jefferies Financial Group initiated 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 upped their price objective on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays lifted their target price on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Bank of America upped their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $91.31.

WEC Energy Group Trading Up 1.0 %

NYSE WEC opened at $94.72 on Friday. The firm’s 50 day moving average price is $89.76 and its two-hundred day moving average price is $83.92. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $96.65. The stock has a market cap of $29.91 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.47 and a beta of 0.44.

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, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. WEC Energy Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

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.