Advisors Asset Management Inc. Cuts Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Advisors Asset Management Inc. trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 20.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,285 shares of the utilities provider’s stock after selling 13,745 shares during the quarter. Advisors Asset Management Inc.’s holdings in WEC Energy Group were worth $5,221,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WEC. Global X Japan Co. Ltd. grew its holdings 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 during the last quarter. Olistico Wealth LLC purchased a new position in WEC Energy Group in the second quarter worth $29,000. Coastline Trust Co purchased a new position in WEC Energy Group in the third quarter worth $29,000. William B. Walkup & Associates Inc. purchased a new position in WEC Energy Group in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new position in WEC Energy Group in the second quarter worth $36,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WEC shares. Scotiabank lifted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.45.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s 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 completion of the transaction, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the transaction, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,045 shares of company stock worth $1,038,807 over the last three months. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Up 1.7 %

NYSE WEC opened at $100.97 on Friday. The company has a market capitalization of $31.94 billion, a PE ratio of 24.69, a P/E/G ratio of 2.69 and a beta of 0.44. The company has a fifty day moving average of $96.60 and a 200 day moving average of $88.72. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $101.00. 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 (NYSE:WEC) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.31%. WEC Energy Group’s dividend payout ratio is presently 81.66%.

WEC Energy Group Company Profile

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.