Frank Rimerman Advisors LLC Trims Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Frank Rimerman Advisors LLC lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 74.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,104 shares of the utilities provider’s stock after selling 9,019 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in WEC Energy Group were worth $299,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares during the period. Earnest Partners LLC grew its stake in shares of WEC Energy Group by 11.8% in the 2nd quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after buying an additional 206,637 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of WEC Energy Group by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock valued at $139,889,000 after buying an additional 61,019 shares during the period. Clearbridge Investments LLC increased its holdings in shares of WEC Energy Group by 1.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,355,909 shares of the utilities provider’s stock worth $106,385,000 after buying an additional 22,026 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of WEC Energy Group by 9.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,320,723 shares of the utilities provider’s stock valued at $108,458,000 after buying an additional 111,254 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of WEC opened at $97.00 on Tuesday. The company has a market cap of $30.66 billion, a P/E ratio of 22.40, a PEG ratio of 2.50 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The firm’s 50 day moving average price is $95.26 and its 200 day moving average price is $86.83.

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

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is presently 77.14%.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.44% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on WEC shares. Barclays lifted their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. KeyCorp boosted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group started coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 target price for the company. Bank of America boosted their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets increased their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.45.

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.