WEC Energy Group, Inc. $WEC Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,900 shares of the utilities provider’s stock after selling 5,100 shares during the quarter. Forsta AP Fonden’s holdings in WEC Energy Group were worth $10,305,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $25,000. Nova Wealth Management Inc. acquired a new stake in WEC Energy Group during the first quarter worth about $26,000. Bayforest Capital Ltd acquired a new stake in WEC Energy Group during the second quarter worth about $26,000. NewSquare Capital LLC boosted its holdings in WEC Energy Group by 60.5% in the 2nd quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in WEC Energy Group in the 1st quarter valued at about $35,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WEC shares. BTIG Research upgraded shares of WEC Energy Group to a “strong-buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada set a $131.00 target price on WEC Energy Group in a research note on Monday, October 27th. Cowen assumed coverage on WEC Energy Group in a research report on Wednesday, October 15th. They issued a “hold” rating on the stock. UBS Group increased their price target on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Scotiabank raised their price objective on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.21.

WEC Energy Group Price Performance

WEC stock opened at $111.60 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $36.30 billion, a PE ratio of 21.10, a P/E/G ratio of 3.16 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 business’s fifty day moving average price is $112.82 and its 200 day moving average price is $108.90.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The company had revenue of $2.28 billion during the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.8925 dividend. The ex-dividend date 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 payout ratio is 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.