Empire Life Investments Inc. Cuts Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Empire Life Investments Inc. lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 232,734 shares of the utilities provider’s stock after selling 2,645 shares during the quarter. WEC Energy Group makes up approximately 1.4% of Empire Life Investments Inc.’s portfolio, making the stock its 28th biggest holding. Empire Life Investments Inc.’s holdings in WEC Energy Group were worth $22,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in WEC. Global X Japan Co. Ltd. lifted its stake in WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group in the second quarter valued at approximately $29,000. William B. Walkup & Associates Inc. purchased a new position in WEC Energy Group during the second quarter worth approximately $31,000. FinTrust Capital Advisors LLC boosted its stake in WEC Energy Group by 52.6% during the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after buying an additional 142 shares during the last quarter. Finally, ESL Trust Services LLC purchased a new stake in WEC Energy Group in the 1st quarter valued at $37,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 0.0 %

Shares of NYSE:WEC opened at $95.57 on Friday. The firm has a market capitalization of $30.21 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 2.46 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $100.31. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.54. The firm’s 50-day moving average is $95.55 and its two-hundred day moving average is $87.25.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.49%. WEC Energy Group’s payout ratio is 81.66%.

Analysts Set New Price Targets

WEC has been the topic of several analyst reports. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. BMO Capital Markets increased their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Barclays lifted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company increased their price objective 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.45.

Insiders Place Their Bets

In other news, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 in the last quarter. 0.34% of the stock is owned by company insiders.

WEC Energy Group 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.