1832 Asset Management L.P. Sells 37,189 Shares of WEC Energy Group, Inc. $WEC

1832 Asset Management L.P. decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,808 shares of the utilities provider’s stock after selling 37,189 shares during the period. 1832 Asset Management L.P. owned 0.06% of WEC Energy Group worth $21,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group in the first quarter valued at approximately $26,000. Bayforest Capital Ltd acquired a new stake in WEC Energy Group during the 2nd quarter worth $26,000. New England Capital Financial Advisors LLC grew its holdings in WEC Energy Group by 265.8% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 278 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 202 shares during the period. Finally, NewSquare Capital LLC raised its position in shares of WEC Energy Group by 60.5% during the 2nd quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

Shares of WEC opened at $106.32 on Friday. The firm has a market cap of $34.58 billion, a P/E ratio of 20.10, a PEG ratio of 2.71 and a beta of 0.56. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The firm’s 50 day moving average price is $113.04 and its two-hundred day moving average price is $109.22.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The company had revenue of $2.28 billion during the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. On average, analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, November 14th. WEC Energy Group’s payout ratio is 67.49%.

Wall Street Analyst Weigh In

WEC has been the topic of several recent research reports. BTIG Research upgraded WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company began coverage on WEC Energy Group in a research note on Monday, October 27th. They issued an “overweight” rating and a $124.00 target price on the stock. TD Cowen started coverage on WEC Energy Group in a report on Thursday, October 16th. They set a “hold” rating and a $125.00 target price on the stock. Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Citigroup assumed coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.

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.