WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 915,387 shares of the utilities provider’s stock after selling 16,345 shares during the quarter. Bessemer Group Inc. owned 0.29% of WEC Energy Group worth $99,760,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC boosted its holdings in WEC Energy Group by 0.4% in the first quarter. Chevy Chase Trust Holdings LLC now owns 168,308 shares of the utilities provider’s stock valued at $18,342,000 after purchasing an additional 640 shares in the last quarter. Spirepoint Private Client LLC acquired a new position in shares of WEC Energy Group in the first quarter valued at approximately $216,000. Asset Management One Co. Ltd. increased its stake in WEC Energy Group by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 169,791 shares of the utilities provider’s stock valued at $18,504,000 after buying an additional 2,051 shares during the period. Valmark Advisers Inc. increased its stake in shares of WEC Energy Group by 2.3% during the first quarter. Valmark Advisers Inc. now owns 9,426 shares of the utilities provider’s stock worth $1,027,000 after acquiring an additional 211 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in WEC Energy Group by 196.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 57,991 shares of the utilities provider’s stock worth $6,320,000 after purchasing an additional 38,456 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a report on Wednesday. Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Barclays raised their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased their target price on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $106.33.

WEC Energy Group Stock Down 2.3%

NYSE WEC opened at $102.97 on Thursday. The business has a 50 day moving average price of $106.54 and a two-hundred day moving average price of $103.08. The stock has a market cap of $32.86 billion, a PE ratio of 20.07, a P/E/G ratio of 2.89 and a beta of 0.45. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. WEC Energy Group’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.97 EPS. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. WEC Energy Group’s payout ratio is 69.59%.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the sale, the vice president now owns 2,686 shares of the company’s stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is 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.