WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lessened its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,838 shares of the utilities provider’s stock after selling 116 shares during the period. Icon Wealth Advisors LLC’s holdings in WEC Energy Group were worth $1,042,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mizuho Securities USA LLC lifted its position in shares of WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after buying an additional 1,912,223 shares in the last quarter. American Century Companies Inc. lifted its holdings in WEC Energy Group by 36.7% during the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after buying an additional 688,812 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of WEC Energy Group by 151.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 583,990 shares of the utilities provider’s stock worth $56,168,000 after acquiring an additional 351,972 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of WEC Energy Group by 10,220.1% in the 3rd quarter. International Assets Investment Management LLC now owns 303,515 shares of the utilities provider’s stock valued at $29,192,000 after acquiring an additional 300,574 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.8 %

WEC opened at $101.05 on Friday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The business has a 50 day moving average price of $97.33 and a two-hundred day moving average price of $89.42. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The company has a market cap of $31.97 billion, a PE ratio of 24.71, a P/E/G ratio of 2.77 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is 81.66%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WEC. Bank of America boosted their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Barclays boosted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets lifted their target price 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus price target of $94.45.

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.