WEC Energy Group, Inc. (NYSE:WEC) Stake Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,265 shares of the utilities provider’s stock after selling 2,999 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in WEC Energy Group were worth $16,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Global X Japan Co. Ltd. increased its position 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 worth $25,000 after buying an additional 118 shares during the period. Coastline Trust Co bought a new position in shares of WEC Energy Group during the third quarter worth about $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group in the 2nd quarter worth about $31,000. Triad Wealth Partners LLC bought a new stake in WEC Energy Group in the 2nd quarter valued at about $36,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in WEC Energy Group during the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 1.5 %

WEC Energy Group stock opened at $98.21 on Wednesday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a market capitalization of $31.07 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.71 and a beta of 0.46. The company has a 50 day moving average price of $97.50 and a 200 day moving average price of $89.68.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results 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 business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. WEC Energy Group’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 14th were issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,794 shares of company stock valued at $4,866,579. Corporate insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Barclays lifted their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their price target on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Finally, Bank of America increased their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $95.45.

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.