WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,725 shares of the utilities provider’s stock after selling 4,365 shares during the period. Intech Investment Management LLC’s holdings in WEC Energy Group were worth $3,901,000 as of its most recent SEC filing.

A number of other hedge funds 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. increased its stake in shares of WEC Energy Group by 93.3% in 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 purchasing an additional 803,718 shares during the period. American Century Companies Inc. increased its stake in shares of WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares during the period. Earnest Partners LLC raised its holdings in shares of WEC Energy Group by 36.0% during the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $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 during the first quarter worth approximately $23,297,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays raised their target price on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Scotiabank raised their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of WEC Energy Group in a report on Thursday. They issued a “hold” rating and a $102.00 price objective for the company. Bank of America raised their target price 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. Finally, KeyCorp upped their price target on shares of WEC Energy Group from $95.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.31.

WEC Energy Group Stock Up 1.0 %

WEC stock opened at $94.72 on Friday. The firm has a market cap of $29.91 billion, a PE ratio of 20.68, a P/E/G ratio of 2.47 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $96.65. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $89.76 and a 200 day simple moving average of $83.95.

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

WEC Energy Group Announces Dividend

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

Insider Buying and Selling at WEC Energy Group

In other 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 value 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction that occurred 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 transaction, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

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.