US Bancorp DE Sells 11,438 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• US Bancorp DE sold 11,438 shares of WEC Energy Group, reducing its holdings by 3.3%, leaving them with a total of 334,328 shares valued at approximately $36.4 million.
• Several institutional investors have made significant changes to their positions, with 77.20% of WEC Energy Group's stock now owned by such investors.
• WEC Energy Group's most recent earnings report showed an EPS of $0.76, exceeding analysts' expectations and representing a 13.4% increase in revenue compared to the same quarter last year.

US Bancorp DE cut its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 334,328 shares of the utilities provider's stock after selling 11,438 shares during the period. US Bancorp DE owned 0.10% of WEC Energy Group worth $36,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Horizon Investment Services LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $379,000. Los Angeles Capital Management LLC lifted its stake in WEC Energy Group by 2,964.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after purchasing an additional 105,106 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $10,333,000. Sowell Financial Services LLC purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $325,000. Finally, CWA Asset Management Group LLC lifted its stake in WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after purchasing an additional 157 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WEC has been the topic of several recent analyst reports. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. 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. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, Barclays raised their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, WEC Energy Group has an average rating of "Hold" and a consensus price target of $106.40.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $110.29 on Friday. The stock has a market cap of $35.20 billion, a PE ratio of 21.13, a PEG ratio of 3.00 and a beta of 0.42. The company's fifty day moving average is $105.95 and its 200 day moving average is $105.29. WEC Energy Group, Inc. has a 52 week low of $86.76 and a 52 week high of $111.07. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

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

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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