WEC Energy Group, Inc. (NYSE:WEC) Stock Position Lessened by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,510,382 shares of the utilities provider's stock after selling 23,255 shares during the period. WEC Energy Group comprises approximately 1.9% of Confluence Investment Management LLC's holdings, making the stock its 12th biggest holding. Confluence Investment Management LLC owned 0.48% of WEC Energy Group worth $145,269,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WEC. Global X Japan Co. Ltd. boosted its position in shares of 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 acquiring an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth $29,000. William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the 2nd quarter worth $31,000. ESL Trust Services LLC acquired a new position in WEC Energy Group in the first quarter valued at $37,000. Finally, Triad Wealth Partners LLC purchased a new stake in WEC Energy Group during the second quarter valued at about $36,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WEC has been the topic of several research analyst reports. KeyCorp lifted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted 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. Barclays raised their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Finally, Bank of America raised their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $94.45.

WEC Energy Group Stock Up 2.4 %

Shares of NYSE:WEC traded up $2.28 during midday trading on Friday, reaching $97.61. The company had a trading volume of 2,484,882 shares, compared to its average volume of 2,161,737. The stock has a market capitalization of $30.88 billion, a P/E ratio of 23.87, a PEG ratio of 2.47 and a beta of 0.44. The stock's fifty day moving average price is $95.87 and its 200-day moving average price is $87.73. 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 one year low of $75.13 and a one year high of $100.31.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results 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. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The company's revenue was down 4.8% on a year-over-year basis. Equities research analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared 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. This represents a $3.34 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's dividend payout ratio is currently 81.66%.

Insider Activity at WEC Energy Group

In related news, VP William J. Guc sold 6,000 shares of the business's stock in a transaction dated 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 sale, the vice president now owns 7,702 shares of the company's stock, valued at $716,208.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company's stock, valued at $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm's stock in a transaction on 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 sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

WEC Energy Group 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.