Mutual of America Capital Management LLC Sells 1,530 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mutual of America Capital Management LLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 39,826 shares of the utilities provider’s stock after selling 1,530 shares during the period. Mutual of America Capital Management LLC’s holdings in WEC Energy Group were worth $3,125,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Clearstead Trust LLC boosted its stake in shares of WEC Energy Group by 1.2% during the 2nd quarter. Clearstead Trust LLC now owns 17,889 shares of the utilities provider’s stock worth $1,404,000 after acquiring an additional 220 shares during the period. Virtu Financial LLC bought a new position in WEC Energy Group during the second quarter worth $1,428,000. Edgestream Partners L.P. increased its holdings in shares of WEC Energy Group by 69.6% in the second quarter. Edgestream Partners L.P. now owns 65,465 shares of the utilities provider’s stock valued at $5,136,000 after purchasing an additional 26,870 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of WEC Energy Group by 155.6% during the 2nd quarter. Quantbot Technologies LP now owns 57,325 shares of the utilities provider’s stock worth $4,498,000 after buying an additional 34,901 shares during the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth about $365,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WEC. Jefferies Financial Group began coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. Barclays boosted their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Bank of America raised their price target on shares of 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.31.

WEC Energy Group Stock Performance

NYSE WEC opened at $95.18 on Tuesday. The firm’s 50 day simple moving average is $90.07 and its 200 day simple moving average is $84.06. The firm has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 2.47 and a beta of 0.44. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $96.65.

WEC Energy Group (NYSE:WEC) last issued its 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 firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is 72.93%.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 750 shares of the company’s 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 transaction, the director now directly owns 21,876 shares in the company, valued at $1,934,932.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the sale, the director now directly owns 21,876 shares in the company, valued at $1,934,932.20. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock valued at $1,078,058 in the last quarter. Insiders own 0.34% of the company’s stock.

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.