Toronto Dominion Bank Cuts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Toronto Dominion Bank lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,085 shares of the utilities provider's stock after selling 26,301 shares during the quarter. Toronto Dominion Bank's holdings in WEC Energy Group were worth $10,635,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Sagefield Capital LP raised its holdings in WEC Energy Group by 18.7% in the 4th quarter. Sagefield Capital LP now owns 84,975 shares of the utilities provider's stock valued at $7,991,000 after buying an additional 13,363 shares during the last quarter. Scientech Research LLC raised its holdings in WEC Energy Group by 29.7% in the 4th quarter. Scientech Research LLC now owns 13,825 shares of the utilities provider's stock valued at $1,300,000 after buying an additional 3,167 shares during the last quarter. Second Line Capital LLC raised its holdings in WEC Energy Group by 54.9% in the 4th quarter. Second Line Capital LLC now owns 3,396 shares of the utilities provider's stock valued at $319,000 after buying an additional 1,203 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in WEC Energy Group in the 4th quarter valued at approximately $10,775,000. Finally, Royal Bank of Canada raised its holdings in WEC Energy Group by 7.2% in the 4th quarter. Royal Bank of Canada now owns 1,825,595 shares of the utilities provider's stock valued at $171,680,000 after buying an additional 122,604 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 1.3%

Shares of NYSE:WEC traded up $1.33 during mid-day trading on Friday, hitting $106.82. The company had a trading volume of 1,838,006 shares, compared to its average volume of 2,146,517. The firm has a fifty day moving average price of $106.96 and a 200 day moving average price of $102.05. The company has a market capitalization of $34.09 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00.

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

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a $0.8975 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.36%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WEC shares. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Barclays raised their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets raised their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $107.13.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company's stock, valued at approximately $2,286,635.67. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,305 shares of company stock valued at $3,067,540. 0.50% of the stock is owned by company insiders.

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.