Motley Fool Wealth Management LLC Cuts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Motley Fool Wealth Management LLC lowered its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,219 shares of the utilities provider’s stock after selling 1,625 shares during the period. Motley Fool Wealth Management LLC’s holdings in WEC Energy Group were worth $1,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC boosted its stake in WEC Energy Group by 358.6% during the 4th quarter. Headlands Technologies LLC now owns 3,508 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 2,743 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in WEC Energy Group by 44.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 6,098 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 1,872 shares during the last quarter. Golden State Equity Partners boosted its stake in WEC Energy Group by 28.9% during the 4th quarter. Golden State Equity Partners now owns 5,272 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 1,181 shares during the last quarter. Truist Financial Corp boosted its stake in WEC Energy Group by 7.0% during the 4th quarter. Truist Financial Corp now owns 103,454 shares of the utilities provider’s stock valued at $8,708,000 after purchasing an additional 6,731 shares during the last quarter. Finally, Stevens Capital Management LP boosted its stake in WEC Energy Group by 607.8% during the 4th quarter. Stevens Capital Management LP now owns 19,444 shares of the utilities provider’s stock valued at $1,637,000 after purchasing an additional 16,697 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Royal Bank of Canada reduced their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Scotiabank reduced 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. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Finally, JPMorgan Chase & Co. cut WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. Four equities 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $86.64.

WEC Energy Group Trading Down 1.6 %

Shares of NYSE WEC traded down $1.32 during trading hours on Friday, reaching $81.49. The stock had a trading volume of 1,945,646 shares, compared to its average volume of 1,418,732. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 2.87 and a beta of 0.40. The business’s fifty day moving average price is $80.25 and its two-hundred day moving average price is $81.43. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $97.34.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. WEC Energy Group’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. Analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.10%. WEC Energy Group’s dividend payout ratio is currently 79.15%.

Insiders Place Their Bets

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.