Motco Has $5.05 Million Holdings in WEC Energy Group, Inc. $WEC

Motco cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 3.1% in the second quarter, Holdings Channel.com reports. The firm owned 46,302 shares of the utilities provider’s stock after selling 1,471 shares during the quarter. Motco’s holdings in WEC Energy Group were worth $5,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WEC. Golden State Wealth Management LLC boosted its stake in WEC Energy Group by 252.6% in the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 245 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in WEC Energy Group by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,305 shares of the utilities provider’s stock worth $3,582,000 after purchasing an additional 5,191 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in WEC Energy Group by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 145,813 shares of the utilities provider’s stock worth $15,878,000 after purchasing an additional 2,992 shares during the period. KBC Group NV boosted its stake in WEC Energy Group by 4.7% in the 1st quarter. KBC Group NV now owns 26,331 shares of the utilities provider’s stock worth $2,870,000 after purchasing an additional 1,184 shares during the period. Finally, Avidian Wealth Enterprises LLC acquired a new position in WEC Energy Group in the 1st quarter worth $216,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Anthony Reese sold 4,177 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.30, for a total value of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares of the company’s stock, valued at $193,797.10. This represents a 70.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total transaction of $444,629.90. Following the completion of the transaction, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WEC shares. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. TD Cowen started coverage on shares of WEC Energy Group in a research report on Thursday, October 16th. They set a “hold” rating and a $125.00 price target on the stock. Scotiabank boosted their price target on shares of WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Finally, Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.14.

WEC Energy Group Stock Down 1.2%

Shares of WEC stock opened at $115.32 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The firm’s 50-day moving average is $111.66 and its 200-day moving average is $108.57. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.29 and a beta of 0.47. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The company had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s dividend payout ratio is currently 68.39%.

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.