Reaves W H & Co. Inc. Sells 317,560 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Reaves W H & Co. Inc. decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 91.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,300 shares of the utilities provider's stock after selling 317,560 shares during the period. Reaves W H & Co. Inc.'s holdings in WEC Energy Group were worth $2,382,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WEC. Portside Wealth Group LLC increased its position in shares of WEC Energy Group by 1.2% during the third quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider's stock valued at $837,000 after buying an additional 127 shares during the period. Balentine LLC raised its holdings in WEC Energy Group by 2.7% in the third quarter. Balentine LLC now owns 4,899 shares of the utilities provider's stock worth $395,000 after purchasing an additional 131 shares in the last quarter. N.E.W. Advisory Services LLC lifted its position in WEC Energy Group by 0.4% during the fourth quarter. N.E.W. Advisory Services LLC now owns 36,086 shares of the utilities provider's stock valued at $3,037,000 after buying an additional 132 shares during the period. Gradient Investments LLC grew its position in shares of WEC Energy Group by 3.6% in the 3rd quarter. Gradient Investments LLC now owns 3,979 shares of the utilities provider's stock worth $321,000 after buying an additional 139 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of WEC Energy Group by 1.4% in the 3rd quarter. D.A. Davidson & CO. now owns 10,283 shares of the utilities provider's stock worth $828,000 after buying an additional 144 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WEC shares. JPMorgan Chase & Co. downgraded shares of WEC Energy Group from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. KeyCorp upped their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a "neutral" rating and a $88.00 price target on the stock. Barclays dropped their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an "underweight" rating on the stock in a research note on Thursday, February 8th. Finally, Royal Bank of Canada dropped their price target on shares of WEC Energy Group from $95.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $86.29.

WEC Energy Group Trading Down 0.2 %

WEC traded down $0.15 on Friday, hitting $85.43. The company had a trading volume of 1,901,561 shares, compared to its average volume of 2,118,245. The company has a market cap of $26.98 billion, a PE ratio of 18.65, a PEG ratio of 2.37 and a beta of 0.40. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $94.96. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The business's fifty day simple moving average is $81.24 and its 200 day simple moving average is $81.49.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm's revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.61 earnings per share. Equities research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 3.91%. WEC Energy Group's dividend payout ratio (DPR) is presently 72.93%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott J. Lauber sold 2,830 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares of the company's stock, valued at $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gale E. Klappa sold 37,180 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now directly owns 274,782 shares of the company's stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

About WEC Energy Group

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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