Hunter Perkins Capital Management LLC Reduces Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Hunter Perkins Capital Management LLC lowered its stake in WEC Energy Group, Inc. (NYSE:WEC) by 3.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,960 shares of the utilities provider’s stock after selling 3,230 shares during the quarter. WEC Energy Group makes up about 2.0% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 18th biggest position. Hunter Perkins Capital Management LLC’s holdings in WEC Energy Group were worth $9,999,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Lockerman Financial Group Inc. purchased a new stake in shares of WEC Energy Group during the third quarter worth about $216,000. Zhang Financial LLC purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $719,000. NBC Securities Inc. raised its holdings in WEC Energy Group by 22.2% in the 3rd quarter. NBC Securities Inc. now owns 830 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 151 shares during the last quarter. Creative Planning lifted its stake in shares of WEC Energy Group by 4.6% during the 3rd quarter. Creative Planning now owns 57,528 shares of the utilities provider’s stock worth $5,533,000 after purchasing an additional 2,532 shares during the period. Finally, Stablepoint Partners LLC grew its position in shares of WEC Energy Group by 15.9% in the third quarter. Stablepoint Partners LLC now owns 5,015 shares of the utilities provider’s stock valued at $482,000 after purchasing an additional 688 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now 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. In the last three months, insiders sold 11,702 shares of company stock worth $1,078,058. 0.44% of the stock is currently owned by insiders.

WEC Energy Group Stock Up 1.1 %

Shares of NYSE WEC traded up $1.08 during trading on Wednesday, reaching $98.30. 800,378 shares of the stock were exchanged, compared to its average volume of 2,147,002. The company has a market capitalization of $31.07 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 2.48 and a beta of 0.44. The business’s 50-day moving average price is $93.53 and its 200 day moving average price is $85.70. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $98.40.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $0.92 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s payout ratio is 77.14%.

Analysts Set New Price Targets

Several research firms have commented on WEC. Barclays lifted their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets increased their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America upped their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.00.

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.