Vanguard Group Inc. Has $4.26 Billion Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Vanguard Group Inc. has reduced its stake in WEC Energy Group by 1.4%, selling 554,480 shares, yet still holds about 39.1 million shares worth over $4.26 billion.
13.4% year-over-year.
• The company declared a quarterly dividend of $0.8925 per share, representing a 3.2% dividend yield, with a dividend payout ratio currently at 68.39%.

Vanguard Group Inc. cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,129,518 shares of the utilities provider's stock after selling 554,480 shares during the period. Vanguard Group Inc. owned approximately 12.26% of WEC Energy Group worth $4,264,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group during the first quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the first quarter worth approximately $32,000. Golden State Wealth Management LLC lifted its position in WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after purchasing an additional 245 shares during the period. Creekmur Asset Management LLC lifted its position in WEC Energy Group by 2,420.0% in the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after purchasing an additional 363 shares during the period. Finally, Stephens Consulting LLC lifted its position in WEC Energy Group by 138.6% in the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after purchasing an additional 316 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 2,500 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.55, for a total transaction of $276,375.00. Following the sale, the vice president directly owned 4,219 shares of the company's stock, valued at $466,410.45. The trade was a 37.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.33, for a total transaction of $444,629.90. Following the sale, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,752 shares of company stock worth $6,610,023. Insiders own 0.50% of the company's stock.

WEC Energy Group Price Performance

Shares of NYSE WEC traded down $0.32 during trading on Friday, hitting $110.38. The company had a trading volume of 1,800,820 shares, compared to its average volume of 2,057,527. The company has a market cap of $35.53 billion, a P/E ratio of 21.15, a PEG ratio of 3.03 and a beta of 0.42. WEC Energy Group, Inc. has a 52 week low of $86.76 and a 52 week high of $111.90. The business's 50-day moving average is $106.33 and its 200 day moving average is $105.75. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $0.67 EPS. The company's revenue was up 13.4% on a year-over-year basis. Equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share 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. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's payout ratio is 68.39%.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of research analyst reports. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Barclays upped their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $106.40.

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.