Squarepoint Ops LLC Trims Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Squarepoint Ops LLC lowered its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 8.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 248,232 shares of the utilities provider’s stock after selling 24,333 shares during the period. Squarepoint Ops LLC’s holdings in WEC Energy Group were worth $19,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bradley Foster & Sargent Inc. CT lifted its holdings in WEC Energy Group by 2.0% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after buying an additional 117 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Diversified Trust Co lifted its holdings in WEC Energy Group by 2.7% during the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after buying an additional 134 shares during the last quarter. MPS Loria Financial Planners LLC lifted its holdings in WEC Energy Group by 2.1% during the 1st quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock worth $551,000 after buying an additional 135 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in WEC Energy Group by 52.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEC. Wells Fargo & Company increased their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their price target on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Bank of America raised their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets raised their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $91.31.

WEC Energy Group Stock Down 0.0 %

Shares of WEC stock opened at $94.59 on Friday. The stock has a market cap of $29.90 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 2.43 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The business’s fifty day moving average is $90.59 and its 200-day moving average is $84.23. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $96.65.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion during 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% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. Equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insider Transactions at WEC Energy Group

In other news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock valued at $1,078,058 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.