Wells Fargo & Company MN Has $638.68 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Wells Fargo & Company MN decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,587,922 shares of the utilities provider’s stock after selling 89,517 shares during the period. Wells Fargo & Company MN’s holdings in WEC Energy Group were worth $638,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tennessee Valley Asset Management Partners acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $26,000. Valued Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the fourth quarter worth about $28,000. First United Bank & Trust bought a new position in shares of WEC Energy Group in the fourth quarter worth about $30,000. Fortitude Family Office LLC bought a new stake in WEC Energy Group during the 4th quarter valued at approximately $33,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in WEC Energy Group in the 3rd quarter valued at approximately $38,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing 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 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 transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction 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 sale, 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. Corporate insiders own 0.44% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC traded down $0.54 during mid-day trading on Monday, hitting $84.96. 688,837 shares of the stock were exchanged, compared to its average volume of 2,061,096. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37. The stock’s fifty day simple moving average is $81.81 and its two-hundred day simple moving average is $81.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.42 and a current ratio of 0.55. The company has a market cap of $26.83 billion, a P/E ratio of 18.58, a PEG ratio of 2.45 and a beta of 0.40.

WEC Energy Group (NYSE:WECGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. As a group, analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s payout ratio is presently 72.93%.

Analyst Upgrades and Downgrades

WEC has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Royal Bank of Canada decreased 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 report on Thursday, February 8th. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company. JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Finally, Scotiabank cut their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.29.

Read Our Latest Analysis on WEC Energy Group

WEC Energy Group Profile

(Free Report)

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

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