Bartlett & CO. Wealth Management LLC Sells 2,350 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Bartlett & CO. Wealth Management LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.8% in the third quarter, HoldingsChannel reports. The firm owned 81,825 shares of the utilities provider’s stock after selling 2,350 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in WEC Energy Group were worth $7,870,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of WEC. Wellington Management Group LLP bought a new position in shares of WEC Energy Group in the fourth quarter valued at about $2,639,000. Nomura Holdings Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $535,000. Massmutual Trust Co. FSB ADV raised its position in WEC Energy Group by 23.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,477 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 468 shares during the last quarter. Fulton Bank N.A. lifted its holdings in WEC Energy Group by 16.8% during the 1st quarter. Fulton Bank N.A. now owns 2,982 shares of the utilities provider’s stock worth $245,000 after buying an additional 429 shares in the last quarter. Finally, Czech National Bank boosted its position in WEC Energy Group by 0.5% in the 1st quarter. Czech National Bank now owns 55,501 shares of the utilities provider’s stock valued at $4,558,000 after buying an additional 255 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WEC shares. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. BMO Capital Markets increased their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their price target on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America upped their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.00.

Insider Buying and Selling

In other news, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Anthony Reese sold 1,362 shares of the business’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 directly owns 1,462 shares in the company, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction that occurred on 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 directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock valued at $1,078,058 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $99.85 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company has a market capitalization of $31.53 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.48 and a beta of 0.44. The company’s 50 day moving average price is $94.19 and its two-hundred day moving average price is $86.01. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $99.99.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

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.