Strategy Asset Managers LLC Has $226,000 Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Strategy Asset Managers LLC lessened its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,875 shares of the utilities provider’s stock after selling 285 shares during the quarter. Strategy Asset Managers LLC’s holdings in WEC Energy Group were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in shares of WEC Energy Group during the 1st quarter worth approximately $127,945,000. Clearbridge Investments LLC lifted its position in shares of WEC Energy Group by 763.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,332,587 shares of the utilities provider’s stock worth $112,164,000 after buying an additional 1,178,270 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of WEC Energy Group by 93.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after buying an additional 803,718 shares during the period. Earnest Partners LLC lifted its position in shares of WEC Energy Group by 36.0% during the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after buying an additional 462,646 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of WEC Energy Group during the 1st quarter worth approximately $23,297,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. 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 over the last three months. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 1.0 %

NYSE WEC opened at $94.54 on Thursday. The stock has a fifty day moving average of $85.77 and a 200-day moving average of $82.55. The stock has a market capitalization of $29.86 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $94.99. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping 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 business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 4.88 EPS for the current 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 paid a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.53%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Analysts Set New Price Targets

Several research firms recently commented on WEC. BMO Capital Markets raised their target price 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 lifted their price objective on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays lifted their price objective on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. KeyCorp cut their price objective on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $89.77.

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.