Forsta AP Fonden Has $10 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Forsta AP Fonden reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.7% in the 3rd quarter, Holdings Channel reports. The firm owned 104,000 shares of the utilities provider’s stock after selling 8,700 shares during the period. Forsta AP Fonden’s holdings in WEC Energy Group were worth $10,003,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. boosted its holdings in shares of WEC Energy Group by 58.1% during the 2nd 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. Olistico Wealth LLC bought a new stake in WEC Energy Group during the second quarter valued at about $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group in the second quarter valued at about $31,000. FinTrust Capital Advisors LLC grew its position in shares of WEC Energy Group by 52.6% in the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of WEC Energy Group in the second quarter worth about $36,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $97.19 on Monday. The firm has a market cap of $30.69 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.44. The firm’s 50-day simple moving average is $95.12 and its 200-day simple moving average is $86.70. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $100.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last released 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 return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 3.44%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Insider Buying and Selling at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 750 shares of the 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 completion of the sale, the director now owns 21,876 shares in the company, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the company’s 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 of the company’s stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 owns 7,702 shares of the company’s stock, valued at $716,208.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WEC has been the topic of a number of research analyst reports. BMO Capital Markets raised their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. KeyCorp raised their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays upped their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Bank of America increased their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $94.45.

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.