WEC Energy Group, Inc. (NYSE:WEC) Stock Position Decreased by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,818 shares of the utilities provider’s stock after selling 413 shares during the period. Hartford Investment Management Co.’s holdings in WEC Energy Group were worth $1,906,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank lifted its stake in shares of WEC Energy Group by 7.0% in the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after purchasing an additional 4,205 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of WEC Energy Group by 139.6% during the 1st quarter. Empowered Funds LLC now owns 30,792 shares of the utilities provider’s stock worth $2,529,000 after acquiring an additional 17,938 shares in the last quarter. Duality Advisers LP boosted its stake in shares of WEC Energy Group by 69.8% during the 1st quarter. Duality Advisers LP now owns 54,659 shares of the utilities provider’s stock worth $4,489,000 after acquiring an additional 22,478 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of WEC Energy Group by 335.4% during the 1st quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock valued at $4,442,000 after acquiring an additional 41,668 shares during the last quarter. Finally, Norden Group LLC bought a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $9,095,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

WEC has been the topic of several analyst reports. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Bank of America raised 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 note on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays raised 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. Finally, Scotiabank boosted their price objective on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.45.

WEC Energy Group Stock Down 0.7 %

WEC stock opened at $98.81 on Friday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $100.31. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The company has a market cap of $31.23 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.54 and a beta of 0.44. The business’s 50-day simple moving average is $94.78 and its 200 day simple moving average is $86.43.

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. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 77.14%.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the sale, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

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.