Integrity Alliance LLC. Decreases Stake in WEC Energy Group, Inc. $WEC

Integrity Alliance LLC. reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 64.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,258 shares of the utilities provider’s stock after selling 4,060 shares during the period. Integrity Alliance LLC.’s holdings in WEC Energy Group were worth $235,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after purchasing an additional 1,349,522 shares during the period. JPMorgan Chase & Co. increased its stake in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares during the period. Ameriprise Financial Inc. increased its stake in WEC Energy Group by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock worth $466,451,000 after purchasing an additional 33,810 shares during the period. Northern Trust Corp increased its stake in WEC Energy Group by 4.9% in the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock worth $436,298,000 after purchasing an additional 188,057 shares during the period. Finally, Nuveen LLC purchased a new position in WEC Energy Group in the 1st quarter worth approximately $403,372,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 0.8%

NYSE WEC opened at $111.74 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18. The firm has a market capitalization of $35.97 billion, a PE ratio of 21.12, a P/E/G ratio of 3.15 and a beta of 0.48. The stock’s 50 day moving average is $111.92 and its 200 day moving average is $108.69.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The company had revenue of $2.28 billion for the quarter. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group’s payout ratio is currently 67.49%.

Insider Activity at WEC Energy Group

In related news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the sale, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the sale, the director directly owned 20,360 shares in the company, valued at $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their price objective on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their price objective on WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada set a $131.00 price objective on WEC Energy Group in a research report on Monday, October 27th. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Finally, TD Cowen assumed coverage on WEC Energy Group in a research report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.21.

WEC Energy Group Company 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.