Mattern Capital Management LLC Decreases Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Mattern Capital Management LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,430 shares of the utilities provider's stock after selling 3,350 shares during the quarter. Mattern Capital Management LLC's holdings in WEC Energy Group were worth $8,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new position in WEC Energy Group during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in shares of WEC Energy Group during the 3rd quarter worth $45,000. Human Investing LLC purchased a new stake in shares of WEC Energy Group in the 4th quarter worth about $52,000. Bank of Jackson Hole Trust acquired a new stake in WEC Energy Group in the 4th quarter valued at about $59,000. Finally, Kestra Investment Management LLC acquired a new stake in WEC Energy Group in the 4th quarter valued at about $61,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on WEC shares. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. KeyCorp boosted their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. 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. Based on data from MarketBeat, WEC Energy Group currently has an average rating of "Hold" and an average target price of $101.88.

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Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.44% of the company's stock.

WEC Energy Group Trading Up 1.2 %

NYSE:WEC traded up $1.29 during trading hours on Tuesday, reaching $106.17. 1,774,630 shares of the company were exchanged, compared to its average volume of 2,159,622. The firm has a market cap of $33.59 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.60 and a beta of 0.49. The stock has a 50 day simple moving average of $97.96 and a 200 day simple moving average of $96.56. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $106.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the business posted $1.10 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group's payout ratio is currently 73.91%.

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.