Coastal Investment Advisors Inc. lowered its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 13.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,420 shares of the utilities provider’s stock after selling 224 shares during the period. Coastal Investment Advisors Inc.’s holdings in WEC Energy Group were worth $136,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Marshall Wace North America L.P. purchased a new stake in WEC Energy Group in the 1st quarter valued at $290,000. Cox Capital Mgt LLC raised its position in WEC Energy Group by 2.5% in the 2nd quarter. Cox Capital Mgt LLC now owns 5,693 shares of the utilities provider’s stock valued at $475,000 after buying an additional 140 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in WEC Energy Group in the 2nd quarter valued at $323,000. WINTON GROUP Ltd raised its position in WEC Energy Group by 56.1% in the 2nd quarter. WINTON GROUP Ltd now owns 9,004 shares of the utilities provider’s stock valued at $751,000 after buying an additional 3,237 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its position in shares of WEC Energy Group by 5.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 2,345 shares of the utilities provider’s stock valued at $195,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.
In related news, CEO Joseph Kevin Fletcher sold 27,105 shares of WEC Energy Group stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $95.69, for a total value of $2,593,677.45. Following the completion of the sale, the chief executive officer now owns 25,240 shares of the company’s stock, valued at approximately $2,415,215.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barbara L. Bowles sold 1,000 shares of WEC Energy Group stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $89.73, for a total value of $89,730.00. The disclosure for this sale can be found here. In the last three months, insiders sold 245,849 shares of company stock valued at $22,963,496. 0.75% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on WEC shares. Bank of America lowered WEC Energy Group from a “neutral” rating to an “underperform” rating and raised their target price for the company from $82.00 to $85.00 in a research report on Monday, June 24th. Credit Suisse Group lowered WEC Energy Group from a “neutral” rating to an “underperform” rating and raised their target price for the company from $84.00 to $85.00 in a research report on Tuesday, August 6th. They noted that the move was a valuation call. ValuEngine lowered WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim lowered WEC Energy Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. They noted that the move was a valuation call. Finally, UBS Group raised their target price on WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $85.91.
Shares of WEC Energy Group stock opened at $93.27 on Tuesday. WEC Energy Group Inc has a 1 year low of $66.46 and a 1 year high of $98.19. The firm has a market cap of $29.30 billion, a PE ratio of 27.93, a P/E/G ratio of 4.27 and a beta of 0.03. The stock has a fifty day moving average price of $93.88 and a 200-day moving average price of $86.21. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.55 and a quick ratio of 0.41.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted $0.73 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that WEC Energy Group Inc will post 3.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.53%. WEC Energy Group’s dividend payout ratio (DPR) is currently 70.66%.
About WEC Energy Group
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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