WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,173 shares of the utilities provider’s stock after selling 1,405 shares during the period. Harbour Investments Inc.’s holdings in WEC Energy Group were worth $2,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted its holdings in WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in WEC Energy Group in the second quarter valued at $29,000. William B. Walkup & Associates Inc. purchased a new position in WEC Energy Group in the second quarter valued at $31,000. ESL Trust Services LLC purchased a new position in WEC Energy Group in the first quarter valued at $37,000. Finally, Triad Wealth Partners LLC purchased a new position in WEC Energy Group in the second quarter valued at $36,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.9 %

Shares of NYSE WEC opened at $97.85 on Wednesday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The company has a market cap of $30.95 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.54 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $95.98 and a 200 day moving average price of $87.92.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. Research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.41%. WEC Energy Group’s payout ratio is 81.66%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WEC. KeyCorp lifted their price target on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. Barclays boosted their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Scotiabank boosted their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three 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. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $94.45.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s 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 sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

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.