Mackenzie Financial Corp Sells 699 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mackenzie Financial Corp cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,149 shares of the utilities provider’s stock after selling 699 shares during the quarter. Mackenzie Financial Corp’s holdings in WEC Energy Group were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Portside Wealth Group LLC boosted its position in WEC Energy Group by 1.2% during the 3rd quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider’s stock valued at $837,000 after acquiring an additional 127 shares in the last quarter. Balentine LLC boosted its position in WEC Energy Group by 2.7% during the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 131 shares in the last quarter. Blossom Wealth Management boosted its position in WEC Energy Group by 3.6% during the 3rd quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 132 shares in the last quarter. Gradient Investments LLC boosted its position in WEC Energy Group by 3.6% during the 3rd quarter. Gradient Investments LLC now owns 3,979 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 139 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in WEC Energy Group by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 10,283 shares of the utilities provider’s stock valued at $828,000 after acquiring an additional 144 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $81.97 on Wednesday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $98.80. The firm has a market cap of $25.86 billion, a P/E ratio of 19.42, a PEG ratio of 2.83 and a beta of 0.40. The company has a 50 day moving average of $79.97 and a 200 day moving average of $81.41. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. As a group, research analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.07%. WEC Energy Group’s dividend payout ratio is presently 79.15%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WEC shares. Wells Fargo & Company cut their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Bank of America reissued an “underperform” rating and issued a $78.00 price target (down from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. JPMorgan Chase & Co. cut WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.64.

WEC Energy Group 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.