PFG Investments LLC decreased its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,076 shares of the utilities provider’s stock after selling 1,105 shares during the quarter. PFG Investments LLC’s holdings in WEC Energy Group were worth $759,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in shares of WEC Energy Group during the second quarter valued at about $205,000. Northwestern Mutual Wealth Management Co. grew its holdings in WEC Energy Group by 9.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,425 shares of the utilities provider’s stock worth $2,152,000 after purchasing an additional 2,333 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group during the second quarter valued at approximately $31,000. Quarry LP grew its holdings in shares of WEC Energy Group by 158.3% during the second quarter. Quarry LP now owns 1,361 shares of the utilities provider’s stock valued at $107,000 after buying an additional 834 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of WEC Energy Group by 35.1% during the second quarter. EP Wealth Advisors LLC now owns 5,717 shares of the utilities provider’s stock valued at $449,000 after buying an additional 1,485 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.
WEC Energy Group Trading Down 1.8 %
Shares of WEC opened at $99.07 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The company has a 50-day moving average of $96.76 and a 200 day moving average of $94.13. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 2.46 and a beta of 0.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46.
WEC Energy Group Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.37%. WEC Energy Group’s dividend payout ratio is currently 81.66%.
Insider Activity
In other news, Director Gale E. Klappa sold 1,805 shares of WEC Energy Group stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the transaction, the director now owns 273,248 shares of the company’s stock, valued at $27,160,851.20. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at approximately $4,611,581.01. The trade was a 12.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. BMO Capital Markets increased their price target on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research report on Monday, December 2nd. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, KeyCorp lifted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group presently has an average rating of “Hold” and an average price target of $98.40.
View Our Latest Report on WEC Energy Group
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.
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