Stoneridge Investment Partners LLC Decreases Position in WEC Energy Group, Inc. (NYSE:WEC)

Stoneridge Investment Partners LLC lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,139 shares of the utilities provider’s stock after selling 796 shares during the quarter. WEC Energy Group accounts for 2.1% of Stoneridge Investment Partners LLC’s holdings, making the stock its 13th biggest holding. Stoneridge Investment Partners LLC’s holdings in WEC Energy Group were worth $5,592,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of WEC Energy Group by 7.0% during the third quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after buying an additional 4,205 shares during the period. Empowered Funds LLC increased its stake in WEC Energy Group by 139.6% in the first quarter. Empowered Funds LLC now owns 30,792 shares of the utilities provider’s stock worth $2,529,000 after purchasing an additional 17,938 shares during the period. Duality Advisers LP lifted its position in shares of WEC Energy Group by 69.8% during the first quarter. Duality Advisers LP now owns 54,659 shares of the utilities provider’s stock worth $4,489,000 after purchasing an additional 22,478 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of WEC Energy Group by 335.4% during the first quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock valued at $4,442,000 after purchasing an additional 41,668 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of WEC Energy Group by 20.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 423,718 shares of the utilities provider’s stock worth $34,796,000 after purchasing an additional 71,439 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

WEC has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Bank of America increased 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. Jefferies Financial Group began coverage on WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. KeyCorp lifted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average target price of $94.45.

Insider Buying and Selling at WEC Energy Group

In related news, VP William J. Guc sold 6,000 shares of WEC Energy Group 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 completion of the sale, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the transaction, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,352 shares of company stock worth $1,046,645. 0.44% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $94.91 on Tuesday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The firm’s fifty day simple moving average is $95.59 and its two-hundred day simple moving average is $87.40. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $30.00 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.46 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS 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 company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the business posted $1.00 earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 3.52%. WEC Energy Group’s dividend payout ratio is currently 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.