Marshall Wace North America L.P. Sells 9,822 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Marshall Wace North America L.P. cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 67.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,683 shares of the utilities provider’s stock after selling 9,822 shares during the quarter. Marshall Wace North America L.P.’s holdings in WEC Energy Group were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in WEC. Selective Wealth Management Inc. lifted its position in WEC Energy Group by 1,612.9% during the second quarter. Selective Wealth Management Inc. now owns 531 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 500 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of WEC Energy Group by 49.6% during the second quarter. Sound Income Strategies LLC now owns 540 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 179 shares in the last quarter. Parisi Gray Wealth Management purchased a new position in shares of WEC Energy Group during the second quarter worth approximately $59,000. Tradewinds Capital Management LLC raised its stake in shares of WEC Energy Group by 311.2% during the second quarter. Tradewinds Capital Management LLC now owns 699 shares of the utilities provider’s stock worth $62,000 after acquiring an additional 529 shares in the last quarter. Finally, Security National Trust Co. raised its stake in shares of WEC Energy Group by 70.6% during the second quarter. Security National Trust Co. now owns 725 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 72.64% of the company’s stock.

Shares of WEC Energy Group stock opened at $90.69 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $89.94 and its two-hundred day simple moving average is $92.56. The company has a market cap of $28.61 billion, a P/E ratio of 21.80, a PEG ratio of 3.47 and a beta of 0.21. WEC Energy Group, Inc. has a 12-month low of $80.55 and a 12-month high of $99.86.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, November 2nd. The utilities provider reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.13. WEC Energy Group had a net margin of 16.35% and a return on equity of 12.06%. During the same quarter in the previous year, the firm posted $0.84 EPS. Analysts predict that WEC Energy Group, Inc. will post 4.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Friday, November 12th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, November 10th. WEC Energy Group’s dividend payout ratio (DPR) is presently 65.14%.

WEC has been the topic of several research reports. Mizuho lifted their price target on shares of WEC Energy Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, August 26th. Wells Fargo & Company decreased their target price on shares of WEC Energy Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 3rd. Wolfe Research raised shares of WEC Energy Group from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 19th. Argus lifted their target price on shares of WEC Energy Group from $100.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. Finally, Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $92.00 to $94.00 in a research note on Friday, October 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $101.33.

In related news, insider Tom Metcalfe sold 8,265 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $91.04, for a total value of $752,445.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas K. Lane purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The stock was purchased at an average price of $89.47 per share, for a total transaction of $536,820.00. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

WEC Energy Group Company Profile

WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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