Rathbones Group PLC Sells 31,846 Shares of WEC Energy Group, Inc. $WEC

Rathbones Group PLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 732,135 shares of the utilities provider’s stock after selling 31,846 shares during the period. Rathbones Group PLC owned approximately 0.23% of WEC Energy Group worth $76,288,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Horizon Investment Services LLC purchased a new stake in WEC Energy Group during the 1st quarter valued at approximately $379,000. Los Angeles Capital Management LLC increased its holdings in shares of WEC Energy Group by 2,964.9% in the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock valued at $11,841,000 after purchasing an additional 105,106 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of WEC Energy Group during the first quarter worth approximately $10,333,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of WEC Energy Group by 10.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 564,418 shares of the utilities provider’s stock worth $61,510,000 after purchasing an additional 51,631 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of WEC Energy Group by 3.9% during the first quarter. Victory Capital Management Inc. now owns 411,248 shares of the utilities provider’s stock worth $44,818,000 after purchasing an additional 15,531 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Wells Fargo & Company assumed coverage on shares of WEC Energy Group in a report on Monday, October 27th. They issued an “overweight” rating and a $124.00 target price on the stock. BTIG Research upgraded shares of WEC Energy Group to a “strong-buy” rating in a research note on Wednesday, October 22nd. Mizuho set a $125.00 price target on shares of WEC Energy Group in a report on Monday, October 27th. Finally, LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.21.

WEC Energy Group Stock Performance

Shares of WEC opened at $112.85 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18. The company has a 50-day simple moving average of $112.39 and a 200-day simple moving average of $108.80. The company has a market capitalization of $36.71 billion, a PE ratio of 21.33, a P/E/G ratio of 3.18 and a beta of 0.48.

WEC Energy Group (NYSE:WEC) last issued its earnings results 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 company had revenue of $2.28 billion for the quarter. Equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

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

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.