Shell Asset Management Co. Has $863,000 Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Shell Asset Management Co. decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 8.9% in the fourth quarter, HoldingsChannel reports. The firm owned 9,182 shares of the utilities provider’s stock after selling 902 shares during the period. Shell Asset Management Co.’s holdings in WEC Energy Group were worth $863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC boosted its position in shares of WEC Energy Group by 6.5% in the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after buying an additional 6,785 shares during the period. Walkner Condon Financial Advisors LLC purchased a new stake in WEC Energy Group in the 4th quarter worth about $271,000. Merit Financial Group LLC boosted its position in WEC Energy Group by 46.4% during the 4th quarter. Merit Financial Group LLC now owns 15,991 shares of the utilities provider’s stock worth $1,504,000 after acquiring an additional 5,069 shares during the period. Aaron Wealth Advisors LLC purchased a new position in WEC Energy Group during the 4th quarter valued at about $257,000. Finally, SG Americas Securities LLC grew its stake in WEC Energy Group by 46.5% during the 4th quarter. SG Americas Securities LLC now owns 65,913 shares of the utilities provider’s stock valued at $6,198,000 after acquiring an additional 20,918 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

Shares of WEC opened at $106.50 on Friday. The firm has a market cap of $33.99 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The company’s fifty day moving average is $106.92 and its 200-day moving average is $101.70. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the company posted $1.97 earnings per share. WEC Energy Group’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.37%. WEC Energy Group’s dividend payout ratio is currently 69.59%.

Insider Activity at WEC Energy Group

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.13.

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.