WEC Energy Group, Inc. $WEC Stock Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,466 shares of the utilities provider’s stock after selling 29,802 shares during the quarter. Boston Trust Walden Corp’s holdings in WEC Energy Group were worth $14,962,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WEC. John Boyer Inc. purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its stake in WEC Energy Group by 972.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 214 shares during the period. Compass Financial Management LLC purchased a new position in WEC Energy Group during the second quarter valued at approximately $29,000. Paladin Partners LLC purchased a new position in WEC Energy Group during the second quarter valued at approximately $34,000. Finally, Addison Advisors LLC purchased a new position in WEC Energy Group during the second quarter valued at approximately $34,000. 77.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the sale, the director directly owned 19,588 shares in the company, valued at approximately $2,068,101.04. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WEC shares. Barclays dropped their price target on shares of WEC Energy Group from $117.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Stephens set a $109.00 price objective on shares of WEC Energy Group in a research report on Friday, October 16th. KeyCorp lowered their target price on shares of WEC Energy Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. dropped their target price on shares of WEC Energy Group from $121.00 to $116.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $117.00 target price (down from $120.00) on shares of WEC Energy Group in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $117.88.

WEC Energy Group Trading Up 0.4%

WEC stock opened at $118.64 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.36. WEC Energy Group, Inc. has a 1-year low of $99.80 and a 1-year high of $120.15. The business has a 50 day simple moving average of $106.67 and a two-hundred day simple moving average of $111.63. The company has a market capitalization of $39.03 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.43 and a beta of 0.43.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.27 billion. WEC Energy Group had a net margin of 17.54% and a return on equity of 13.49%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. Research analysts anticipate that WEC Energy Group, Inc. will post 5.61 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.15%.

WEC Energy Group Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy’s principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.