Bank of New York Mellon Corp Acquires 46,609 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Bank of New York Mellon Corp raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,261,706 shares of the utilities provider's stock after acquiring an additional 46,609 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of WEC Energy Group worth $212,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in WEC. Coastline Trust Co purchased a new stake in WEC Energy Group during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group during the third quarter valued at about $45,000. Human Investing LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter worth about $52,000. Bank of Jackson Hole Trust bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $59,000. Finally, Kestra Investment Management LLC purchased a new position in WEC Energy Group during the fourth quarter valued at approximately $61,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

NYSE:WEC traded up $1.70 during mid-day trading on Monday, reaching $108.39. The stock had a trading volume of 1,480,557 shares, compared to its average volume of 2,182,021. The stock has a market capitalization of $34.44 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.60 and a beta of 0.49. The firm has a 50 day moving average price of $98.94 and a two-hundred day moving average price of $97.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $108.43.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were paid a dividend of $0.835 per share. The ex-dividend date was Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.08%. WEC Energy Group's dividend payout ratio (DPR) is currently 73.91%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company's stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on WEC shares. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and raised their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp lifted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. StockNews.com lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Finally, Scotiabank boosted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.88.

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.