WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by State Street Corp

State Street Corp cut its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,400,036 shares of the utilities provider's stock after selling 173,559 shares during the quarter. State Street Corp owned 6.76% of WEC Energy Group worth $2,058,255,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WEC. Global X Japan Co. Ltd. boosted its position in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 118 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. purchased a new position in WEC Energy Group in the second quarter worth approximately $31,000. Triad Wealth Partners LLC acquired a new stake in WEC Energy Group during the second quarter worth $36,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in WEC Energy Group in the second quarter valued at $38,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 1,805 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the transaction, the director now directly owns 273,248 shares of the company's stock, valued at $27,160,851.20. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the firm'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 sale, 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. In the last three months, insiders have sold 48,794 shares of company stock valued at $4,866,579. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays raised their price objective on WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Scotiabank lifted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. KeyCorp upped their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of "Hold" and a consensus target price of $95.55.

WEC Energy Group Stock Down 0.5 %

Shares of WEC traded down $0.51 during mid-day trading on Friday, reaching $97.21. The company's stock had a trading volume of 596,509 shares, compared to its average volume of 2,119,698. 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 company's 50 day moving average is $97.63 and its 200 day moving average is $89.80. The stock has a market cap of $30.75 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.67 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business's revenue was down 4.8% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, December 5th were issued a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's payout ratio is presently 81.66%.

WEC Energy Group Company 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.