Magellan Asset Management Ltd cut its holdings in WEC Energy Group Inc (NYSE:WEC) by 21.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,352,495 shares of the utilities provider’s stock after selling 358,674 shares during the quarter. WEC Energy Group accounts for 0.3% of Magellan Asset Management Ltd’s portfolio, making the stock its 25th biggest holding. Magellan Asset Management Ltd owned 0.43% of WEC Energy Group worth $90,293,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WEC. Cornerstone Wealth Management LLC purchased a new stake in shares of WEC Energy Group in the second quarter valued at approximately $200,000. Piedmont Investment Advisors LLC purchased a new stake in WEC Energy Group during the second quarter worth $239,000. Raymond James Financial Services Advisors Inc. boosted its position in WEC Energy Group by 21.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 116,199 shares of the utilities provider’s stock worth $7,512,000 after purchasing an additional 20,368 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in WEC Energy Group by 185.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,427 shares of the utilities provider’s stock worth $1,191,000 after purchasing an additional 11,963 shares in the last quarter. Finally, Comerica Bank boosted its position in WEC Energy Group by 2.3% during the second quarter. Comerica Bank now owns 109,496 shares of the utilities provider’s stock worth $7,109,000 after purchasing an additional 2,434 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

In other news, Chairman Gale E. Klappa sold 146,618 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $71.68, for a total value of $10,509,578.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gale E. Klappa sold 50,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $72.36, for a total value of $3,618,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 319,073 shares of company stock valued at $22,864,524. Insiders own 0.97% of the company’s stock.

A number of analysts have commented on the company. Barclays boosted their target price on WEC Energy Group from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Monday, November 19th. ValuEngine upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Credit Suisse Group boosted their target price on WEC Energy Group from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, November 1st. Bank of America downgraded WEC Energy Group from a “buy” rating to a “neutral” rating in a research report on Thursday, November 1st. They noted that the move was a valuation call. Finally, Wolfe Research downgraded WEC Energy Group from a “market perform” rating to a “sell” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $70.40.

WEC opened at $73.28 on Thursday. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $74.16. The firm has a market cap of $23.12 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 5.01 and a beta of -0.01. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.93.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.82%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities analysts anticipate that WEC Energy Group Inc will post 3.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th were issued a $0.5525 dividend. The ex-dividend date of this dividend was Tuesday, November 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.02%. WEC Energy Group’s dividend payout ratio (DPR) is 70.38%.

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WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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