Cornell Pochily Investment Advisors Inc. Has $1.17 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Cornell Pochily Investment Advisors Inc. cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,409 shares of the utilities provider’s stock after selling 286 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in WEC Energy Group were worth $1,167,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Mizuho Securities USA LLC raised its position in shares of WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after buying an additional 25,975,652 shares in the last quarter. Wellington Management Group LLP increased its stake in WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after acquiring an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after acquiring an additional 1,912,223 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after acquiring an additional 699,177 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after purchasing an additional 695,317 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Up 0.7 %

NYSE:WEC opened at $98.02 on Monday. The firm has a market cap of $31.01 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.46 and a beta of 0.48. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The firm’s fifty day moving average is $96.73 and its 200-day moving average is $93.98.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.41%. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 1,805 shares of WEC Energy Group stock in a transaction on Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the sale, the director now directly owns 273,248 shares in the company, valued at approximately $27,160,851.20. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the sale, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,794 shares of company stock valued at $4,866,579. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WEC shares. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Scotiabank boosted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, KeyCorp upped their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $98.40.

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.