Rhumbline Advisers Reduces Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Rhumbline Advisers reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 608,252 shares of the utilities provider's stock after selling 19,954 shares during the period. Rhumbline Advisers owned about 0.19% of WEC Energy Group worth $57,200,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the third quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in WEC Energy Group in the 3rd quarter valued at about $45,000. Friedenthal Financial bought a new position in WEC Energy Group in the 3rd quarter worth about $50,000. Robbins Farley purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $64,000. Finally, Concord Wealth Partners raised its stake in shares of WEC Energy Group by 20.7% during the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider's stock valued at $75,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Up 0.0 %

NYSE WEC traded up $0.01 on Thursday, hitting $103.59. The stock had a trading volume of 1,722,166 shares, compared to its average volume of 2,139,190. The business's fifty day moving average price is $97.44 and its 200 day moving average price is $96.17. The stock has a market cap of $32.77 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. 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, Inc. has a 52-week low of $76.50 and a 52-week high of $104.15.

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WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group's dividend payout ratio is presently 73.91%.

Analyst Ratings Changes

Several research analysts recently issued reports on WEC shares. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. StockNews.com lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Finally, Scotiabank upped their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and a consensus target price of $101.88.

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.