Brown Capital Management LLC Sells 142 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Brown Capital Management LLC lowered its position in WEC Energy Group, Inc. (NYSE:WEC) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,726 shares of the utilities provider’s stock after selling 142 shares during the period. Brown Capital Management LLC’s holdings in WEC Energy Group were worth $1,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WEC. Global X Japan Co. Ltd. boosted its stake in WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of WEC Energy Group in the second quarter worth about $29,000. Coastline Trust Co acquired a new position in shares of WEC Energy Group during the third quarter worth approximately $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of WEC Energy Group in the second quarter valued at approximately $36,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WEC shares. KeyCorp boosted their target price on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Bank of America raised their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets increased their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.45.

WEC Energy Group Trading Up 0.2 %

WEC Energy Group stock opened at $99.26 on Thursday. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.69 and a beta of 0.44. The firm has a 50-day moving average of $96.48 and a 200-day moving average of $88.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $100.31.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.36%. WEC Energy Group’s payout ratio is 81.66%.

Insider Transactions at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. This represents a 43.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,045 shares of company stock worth $1,038,807. 0.34% of the stock is owned by company insiders.

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.