Van ECK Associates Corp Has $11.89 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Van ECK Associates Corp lessened its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 17.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 119,461 shares of the utilities provider's stock after selling 24,604 shares during the period. Van ECK Associates Corp's holdings in WEC Energy Group were worth $11,890,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. grew its stake 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 in the last quarter. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group during the second quarter worth approximately $31,000. ESL Trust Services LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $37,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Down 0.1 %

WEC Energy Group stock traded down $0.09 during trading hours on Wednesday, hitting $96.01. The company had a trading volume of 2,843,234 shares, compared to its average volume of 2,158,656. The firm has a market capitalization of $30.37 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The firm's fifty day moving average is $95.72 and its 200-day moving average is $87.56. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. On average, research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's dividend payout ratio is currently 81.66%.

Analyst Ratings Changes

WEC has been the topic of several analyst reports. 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 lifted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a "market perform" rating in a report on Friday, August 23rd. KeyCorp boosted their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Scotiabank boosted 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 research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price target 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. Three research 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's stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and an average price target of $94.45.

Insider Buying and Selling

In related news, VP William J. Guc sold 6,000 shares of the company's stock in a transaction on 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 transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now owns 3,662 shares of the company's stock, valued at $340,712.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the firm'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 transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,990 shares of company stock valued at $925,727. Company 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.