Los Angeles Capital Management LLC Lowers Stock Position in WEC Energy Group, Inc. $WEC

Los Angeles Capital Management LLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,502 shares of the utilities provider’s stock after selling 9,149 shares during the period. Los Angeles Capital Management LLC’s holdings in WEC Energy Group were worth $10,368,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Nuveen LLC purchased a new stake in WEC Energy Group during the first quarter worth $403,372,000. Charles Schwab Investment Management Inc. raised its position in shares of WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after acquiring an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 665,681 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in WEC Energy Group by 40.0% during the first quarter. Bahl & Gaynor Inc. now owns 1,319,511 shares of the utilities provider’s stock valued at $143,800,000 after purchasing an additional 376,960 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 1.9%

NYSE WEC opened at $112.85 on Monday. The company has a fifty day simple moving average of $112.39 and a two-hundred day simple moving average of $108.80. The stock has a market cap of $36.71 billion, a P/E ratio of 21.33, a P/E/G ratio of 3.18 and a beta of 0.48. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $118.18. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The firm had revenue of $2.28 billion for the quarter. On average, analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.8925 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio is currently 67.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BTIG Research upgraded shares of WEC Energy Group to a “strong-buy” rating in a report on Wednesday, October 22nd. LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. Wells Fargo & Company began coverage on shares of WEC Energy Group in a research report on Monday, October 27th. They set an “overweight” rating and a $124.00 target price for the company. Citigroup began coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.21.

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.