WEC Energy Group, Inc. $WEC Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 61.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,998 shares of the utilities provider’s stock after selling 23,563 shares during the period. Mediolanum International Funds Ltd’s holdings in WEC Energy Group were worth $1,547,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in WEC Energy Group during the 1st quarter worth approximately $403,372,000. Charles Schwab Investment Management Inc. raised its position in shares of WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after acquiring an additional 1,349,522 shares in the last quarter. Vanguard Group Inc. lifted its stake in WEC Energy Group by 2.1% during the second quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock worth $4,162,348,000 after purchasing an additional 816,243 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in WEC Energy Group by 16.6% in the first 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. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in WEC Energy Group by 1,529.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 665,681 shares during the period. 77.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WEC shares. BMO Capital Markets raised their price target on shares of 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. Citigroup began coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective on the stock. UBS Group raised their target price on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Finally, Royal Bank Of Canada set a $131.00 price target on WEC Energy Group in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, WEC Energy Group currently has an average rating of “Moderate Buy” and an average price target of $120.21.

WEC Energy Group Trading Up 0.4%

WEC Energy Group stock opened at $111.08 on Monday. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18. 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 capitalization of $36.13 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.81 and a beta of 0.48. The firm has a 50-day moving average price of $113.10 and a two-hundred day moving average price of $108.98.

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. Sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Dividend Announcement

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

About WEC Energy Group

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.