Kesler Norman & Wride LLC Trims Stake in WEC Energy Group, Inc. (NYSE:WEC)

Kesler Norman & Wride LLC reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 44.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,517 shares of the utilities provider’s stock after selling 5,976 shares during the period. Kesler Norman & Wride LLC’s holdings in WEC Energy Group were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WEC. Security National Bank bought a new position in shares of WEC Energy Group in the third quarter worth approximately $937,000. Fulton Bank N.A. boosted its position in shares of WEC Energy Group by 257.1% in the third quarter. Fulton Bank N.A. now owns 11,664 shares of the utilities provider’s stock worth $1,122,000 after purchasing an additional 8,398 shares during the period. GAMMA Investing LLC boosted its position in shares of WEC Energy Group by 14.0% in the third quarter. GAMMA Investing LLC now owns 12,399 shares of the utilities provider’s stock worth $1,193,000 after purchasing an additional 1,522 shares during the period. Czech National Bank boosted its position in shares of WEC Energy Group by 7.0% in the third quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock worth $6,193,000 after purchasing an additional 4,205 shares during the period. Finally, Wright Investors Service Inc. bought a new position in shares of WEC Energy Group in the third quarter worth approximately $813,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, KeyCorp upped their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.92.

Insider Activity

In other news, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the transaction, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $94.35 on Wednesday. The company has a market cap of $29.82 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.46 and a beta of 0.44. The firm’s fifty day moving average is $92.65 and its 200 day moving average is $85.08. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $97.08.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

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.