Squarepoint Ops LLC Has $10.64 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Squarepoint Ops LLC decreased its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 113,107 shares of the utilities provider's stock after selling 8,521 shares during the period. Squarepoint Ops LLC's holdings in WEC Energy Group were worth $10,637,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the period. Geode Capital Management LLC grew its position in shares of WEC Energy Group by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock valued at $756,423,000 after purchasing an additional 110,802 shares during the period. Deutsche Bank AG grew its position in shares of WEC Energy Group by 3.1% in the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock valued at $538,112,000 after purchasing an additional 173,006 shares during the period. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 699,177 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in WEC Energy Group by 7.9% during the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock worth $396,114,000 after buying an additional 309,697 shares during the period. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Price Performance

NYSE:WEC opened at $105.42 on Friday. The stock's 50-day simple moving average is $106.98 and its 200 day simple moving average is $101.97. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a market cap of $33.64 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. The business's quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $0.8975 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.41%. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) is currently 69.59%.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were 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 approximately $29,865,612.10. This trade represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,305 shares of company stock valued at $3,067,540 in the last quarter. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. Barclays increased their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded 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. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company boosted their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and an average target price of $107.13.

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.

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