WEC Energy Group, Inc. (NYSE:WEC) Position Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in WEC Energy Group, Inc. (NYSE:WEC) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,187 shares of the utilities provider’s stock after selling 2,058 shares during the quarter. MetLife Investment Management LLC’s holdings in WEC Energy Group were worth $7,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Coastline Trust Co acquired a new position in WEC Energy Group in the 3rd quarter worth about $29,000. Global X Japan Co. Ltd. grew its stake in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new position in WEC Energy Group in the second quarter worth approximately $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group during the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in WEC Energy Group in the second quarter valued at approximately $36,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $101.05 on Friday. The firm has a fifty day moving average price of $97.33 and a two-hundred day moving average price of $89.42. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $102.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market cap of $31.97 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.77 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.31%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on WEC. Jefferies Financial Group started coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Scotiabank boosted their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, KeyCorp increased their price target on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.45.

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.