OLD National Bancorp IN Sells 14,983 Shares of WEC Energy Group, Inc. (NYSE:WEC)

OLD National Bancorp IN decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 67,556 shares of the utilities provider's stock after selling 14,983 shares during the period. OLD National Bancorp IN's holdings in WEC Energy Group were worth $6,353,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mizuho Securities USA LLC boosted its stake in shares of WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider's stock valued at $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Geode Capital Management LLC boosted its position in WEC Energy Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider's stock worth $762,453,000 after buying an additional 105,580 shares during the period. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider's stock valued at $362,971,000 after buying an additional 1,912,223 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Down 0.2 %

Shares of WEC Energy Group stock traded down $0.18 during midday trading on Friday, hitting $99.27. The company had a trading volume of 4,607,979 shares, compared to its average volume of 2,104,514. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market capitalization of $31.40 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.47 and a beta of 0.48. The company has a 50 day moving average of $96.71 and a 200 day moving average of $94.32.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion for 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%. WEC Energy Group's revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. On average, equities analysts predict that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared 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 3.36%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group's payout ratio is currently 81.66%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. The trade was a 12.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gale E. Klappa sold 40,269 shares of the 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 completion of the transaction, the director now owns 273,248 shares in the company, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 over the last ninety days. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $97.00 to $104.00 and gave the company a "market perform" rating in a research report on Monday, December 2nd. Bank of America upgraded WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, Scotiabank lifted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of "Hold" and a consensus target price of $98.40.

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.