WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 12.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,688 shares of the utilities provider's stock after selling 7,748 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in WEC Energy Group were worth $5,068,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Kolinsky Wealth Management LLC purchased a new position in shares of WEC Energy Group in the third quarter valued at approximately $207,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider's stock valued at $182,765,000 after purchasing an additional 695,317 shares during the period. Verition Fund Management LLC boosted its stake in shares of WEC Energy Group by 206.2% in the third quarter. Verition Fund Management LLC now owns 29,968 shares of the utilities provider's stock valued at $2,882,000 after purchasing an additional 20,180 shares during the period. Captrust Financial Advisors boosted its stake in shares of WEC Energy Group by 11.5% in the third quarter. Captrust Financial Advisors now owns 24,957 shares of the utilities provider's stock valued at $2,400,000 after purchasing an additional 2,583 shares during the period. Finally, CWS Financial Advisors LLC purchased a new position in shares of WEC Energy Group in the third quarter valued at approximately $200,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Down 1.5 %

Shares of NYSE:WEC traded down $1.45 during trading on Tuesday, hitting $98.21. 1,361,319 shares of the company were exchanged, compared to its average volume of 2,130,775. The stock has a market capitalization of $31.07 billion, a P/E ratio of 24.01, a PEG ratio of 2.71 and a beta of 0.46. 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 12-month low of $75.13 and a 12-month high of $102.79. The firm's 50 day moving average price is $97.50 and its 200-day moving average price is $89.68.

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 business 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 company's revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th were issued a $0.835 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.40%. WEC Energy Group's payout ratio is 81.66%.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 1,805 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the transaction, the director now directly owns 273,248 shares of the company's stock, valued at approximately $27,160,851.20. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 in the last ninety days. 0.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on WEC shares. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a "hold" rating and a $102.00 price objective for the company. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. 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 research note on Tuesday, August 20th. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Barclays lifted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $95.45.

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.