WEC Energy Group, Inc. $WEC Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 77.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,795 shares of the utilities provider’s stock after selling 33,168 shares during the period. Sterling Capital Management LLC’s holdings in WEC Energy Group were worth $987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC grew its stake in shares of WEC Energy Group by 12.0% during the third quarter. Inspire Investing LLC now owns 21,316 shares of the utilities provider’s stock valued at $2,148,000 after acquiring an additional 2,287 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of WEC Energy Group by 2.7% in the third quarter. Yousif Capital Management LLC now owns 42,403 shares of the utilities provider’s stock worth $4,273,000 after acquiring an additional 1,122 shares in the last quarter. NBT Bank N.A. acquired a new position in shares of WEC Energy Group in the third quarter worth about $91,000. Root Financial Partners LLC purchased a new position in WEC Energy Group in the third quarter valued at about $107,000. Finally, Precedent Wealth Partners LLC boosted its holdings in WEC Energy Group by 26.7% in the third quarter. Precedent Wealth Partners LLC now owns 18,161 shares of the utilities provider’s stock valued at $1,830,000 after purchasing an additional 3,824 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the transaction, the director owned 19,588 shares in the company, valued at approximately $2,068,101.04. This trade represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. HSBC assumed coverage on WEC Energy Group in a research note on Thursday, October 22nd. They set a “hold” rating and a $106.50 price objective for the company. KeyCorp cut their target price on WEC Energy Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. BMO Capital Markets reiterated a “market perform” rating on shares of WEC Energy Group in a research note on Friday, October 16th. Stephens set a $109.00 price target on shares of WEC Energy Group in a research report on Friday, October 16th. Finally, Truist Financial decreased their price target on shares of WEC Energy Group from $114.00 to $113.00 and set a “hold” rating for the company in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.88.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $111.56 on Wednesday. The firm’s 50-day simple moving average is $105.60 and its 200-day simple moving average is $111.30. WEC Energy Group, Inc. has a 1 year low of $99.80 and a 1 year high of $119.91.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.11 billion. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 EPS. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.60 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 13th.

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.