WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 18.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 113,085 shares of the utilities provider’s stock after selling 26,301 shares during the period. Toronto Dominion Bank’s holdings in WEC Energy Group were worth $10,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. MJP Associates Inc. ADV grew its position in shares of WEC Energy Group by 3.4% during the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 98 shares during the last quarter. Marshall Financial Group LLC boosted its stake in WEC Energy Group by 4.8% during the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 100 shares during the period. Horizon Investments LLC boosted its stake in WEC Energy Group by 1.9% during the 4th quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 109 shares during the period. Wealth Alliance grew its position in WEC Energy Group by 0.8% in the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock worth $1,325,000 after purchasing an additional 110 shares during the last quarter. Finally, Advisor OS LLC increased its stake in shares of WEC Energy Group by 3.5% in the fourth quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 110 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Barclays raised their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, April 29th. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average target price of $107.13.

WEC Energy Group Stock Up 0.2%

Shares of WEC stock opened at $107.50 on Wednesday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business’s fifty day moving average is $107.02 and its 200-day moving average is $101.87. The stock has a market cap of $34.31 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46.

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

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $0.8975 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.34%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is currently 69.59%.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the business’s 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 sale, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% 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.