WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,124 shares of the utilities provider's stock after selling 11,789 shares during the period. TD Asset Management Inc owned about 0.05% of WEC Energy Group worth $19,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HB Wealth Management LLC raised its position in WEC Energy Group by 19.4% during the first quarter. HB Wealth Management LLC now owns 8,968 shares of the utilities provider's stock worth $977,000 after acquiring an additional 1,456 shares during the last quarter. Prossimo Advisors LLC raised its position in shares of WEC Energy Group by 13.3% in the first quarter. Prossimo Advisors LLC now owns 5,014 shares of the utilities provider's stock valued at $546,000 after buying an additional 588 shares during the last quarter. Equitable Trust Co. acquired a new position in shares of WEC Energy Group in the first quarter valued at approximately $206,000. Baillie Gifford & Co. raised its position in shares of WEC Energy Group by 53.9% in the first quarter. Baillie Gifford & Co. now owns 91,849 shares of the utilities provider's stock valued at $10,010,000 after buying an additional 32,151 shares during the last quarter. Finally, Prudent Investors Network Inc. acquired a new position in shares of WEC Energy Group in the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president directly owned 2,686 shares of the company's stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

WEC Energy Group Trading Up 1.1%

WEC traded up $1.21 during trading on Friday, hitting $110.29. 3,367,369 shares of the company's stock were exchanged, compared to its average volume of 2,227,431. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 1 year low of $86.76 and a 1 year high of $111.07. The stock has a 50 day moving average price of $105.88 and a 200 day moving average price of $105.18. The firm has a market cap of $35.20 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. WEC Energy Group's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's payout ratio is presently 68.39%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WEC. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Barclays boosted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $106.40.

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.