Carret Asset Management LLC Sells 2,100 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Carret Asset Management LLC reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 34.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the utilities provider’s stock after selling 2,100 shares during the quarter. Carret Asset Management LLC’s holdings in WEC Energy Group were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WEC. Vantage Financial Partners LLC grew its stake in shares of WEC Energy Group by 25.2% during the 4th quarter. Vantage Financial Partners LLC now owns 7,685 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 1,547 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of WEC Energy Group by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 377,963 shares of the utilities provider’s stock worth $31,813,000 after acquiring an additional 7,764 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of WEC Energy Group by 44.5% during the 4th quarter. First Horizon Advisors Inc. now owns 646 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 199 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of WEC Energy Group by 18.7% in the fourth quarter. Natixis Advisors L.P. now owns 184,717 shares of the utilities provider’s stock valued at $15,547,000 after buying an additional 29,086 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of WEC Energy Group by 16.1% in the fourth quarter. Merit Financial Group LLC now owns 5,008 shares of the utilities provider’s stock valued at $422,000 after buying an additional 694 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now owns 2,377 shares in the company, valued at $213,335.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at $716,208.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,462 shares of company stock worth $776,608. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 0.3 %

WEC opened at $93.03 on Tuesday. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $93.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company has a market capitalization of $29.40 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.39 and a beta of 0.44. The stock has a fifty day moving average of $85.14 and a 200-day moving average of $82.35.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s payout ratio is currently 72.93%.

Analysts Set New Price Targets

Several research firms recently weighed in on WEC. BMO Capital Markets raised their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. KeyCorp decreased their target price on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Scotiabank raised their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays raised their target price on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.77.

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.