WEC Energy Group, Inc. $WEC Shares Sold by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 91.5% during the second quarter, HoldingsChannel.com reports. The fund owned 374 shares of the utilities provider’s stock after selling 4,016 shares during the quarter. Hartford Funds Management Co LLC’s holdings in WEC Energy Group were worth $39,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WEC. ProShare Advisors LLC grew its stake in WEC Energy Group by 13.4% during the 2nd quarter. ProShare Advisors LLC now owns 56,716 shares of the utilities provider’s stock valued at $5,910,000 after purchasing an additional 6,701 shares in the last quarter. Profund Advisors LLC increased its position in shares of WEC Energy Group by 28.2% in the 2nd quarter. Profund Advisors LLC now owns 16,044 shares of the utilities provider’s stock worth $1,672,000 after purchasing an additional 3,532 shares during the last quarter. PFG Advisors acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $203,000. Midwest Trust Co bought a new position in shares of WEC Energy Group during the second quarter worth about $249,000. Finally, Sound View Wealth Advisors Group LLC increased its holdings in shares of WEC Energy Group by 1.2% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 8,281 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 97 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

NYSE:WEC opened at $112.85 on Monday. The company’s 50-day moving average price is $112.39 and its two-hundred day moving average price is $108.80. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The firm has a market cap of $36.71 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18.

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

WEC Energy Group Dividend Announcement

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 issued a $0.8925 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group’s dividend payout ratio (DPR) is currently 67.49%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup started coverage on WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target on the stock. TD Cowen began coverage on shares of WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target for the company. Scotiabank lifted their price objective on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. KeyCorp increased their price target on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, BMO Capital Markets lifted their target price on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group has a consensus 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.