BNP Paribas Financial Markets Sells 233,285 Shares of WEC Energy Group, Inc. (NYSE:WEC)

BNP Paribas Financial Markets cut its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 29.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 560,616 shares of the utilities provider's stock after selling 233,285 shares during the quarter. BNP Paribas Financial Markets owned about 0.18% of WEC Energy Group worth $53,920,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the sale, the director now owns 273,248 shares of the company's stock, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott J. Lauber sold 6,720 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now owns 45,709 shares of the company's stock, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,794 shares of company stock worth $4,866,579. Company insiders own 0.34% of the company's stock.

WEC Energy Group Stock Performance

WEC Energy Group stock traded down $0.77 during mid-day trading on Friday, reaching $101.05. 1,037,770 shares of the stock traded hands, compared to its average volume of 2,136,781. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $102.79. The business's 50-day moving average is $97.21 and its 200-day moving average is $89.31. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $31.97 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.77 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. During the same quarter in the prior year, the business earned $1.00 EPS. The business's quarterly revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's dividend payout ratio (DPR) is currently 81.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Barclays lifted their price target on WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. StockNews.com upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Finally, BMO Capital Markets boosted 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 report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $94.45.

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.