Brevan Howard Capital Management LP Sells 15,309 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Brevan Howard Capital Management LP lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 58.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,083 shares of the utilities provider's stock after selling 15,309 shares during the period. Brevan Howard Capital Management LP's holdings in WEC Energy Group were worth $1,042,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Annex Advisory Services LLC lifted its position in shares of WEC Energy Group by 6.5% during the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider's stock worth $10,405,000 after purchasing an additional 6,785 shares during the last quarter. Matrix Trust Co bought a new position in WEC Energy Group during the fourth quarter worth $1,538,000. Gateway Investment Advisers LLC raised its stake in WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider's stock valued at $42,689,000 after purchasing an additional 78,580 shares during the last quarter. PFW Advisors LLC bought a new stake in WEC Energy Group in the 4th quarter valued at $1,073,000. Finally, Walkner Condon Financial Advisors LLC acquired a new stake in WEC Energy Group in the 4th quarter worth $271,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

WEC stock traded down $0.31 during midday trading on Friday, reaching $107.65. 2,308,106 shares of the company's stock traded hands, compared to its average volume of 2,148,744. The company has a 50-day simple moving average of $107.08 and a two-hundred day simple moving average of $101.44. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The company has a market cap of $34.35 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.81 billion. During the same period in the previous year, the business posted $1.97 earnings per share. The firm's revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a yield of 3.33%. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Analyst Ratings Changes

A number of research firms recently weighed in on WEC. StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Barclays upped their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, BMO Capital Markets upped 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 note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $107.13.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

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.