Tocqueville Asset Management L.P. Sells 234 Shares of WEC Energy Group Inc (NYSE:WEC)

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Tocqueville Asset Management L.P. reduced its stake in WEC Energy Group Inc (NYSE:WEC) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,508 shares of the utilities provider’s stock after selling 234 shares during the period. Tocqueville Asset Management L.P.’s holdings in WEC Energy Group were worth $429,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Heartland Consultants Inc. boosted its stake in shares of WEC Energy Group by 4.3% during the second quarter. First Heartland Consultants Inc. now owns 12,594 shares of the utilities provider’s stock valued at $1,050,000 after purchasing an additional 522 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of WEC Energy Group by 4.2% during the second quarter. Envestnet Asset Management Inc. now owns 194,017 shares of the utilities provider’s stock valued at $16,175,000 after purchasing an additional 7,864 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of WEC Energy Group by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,538,725 shares of the utilities provider’s stock valued at $211,653,000 after purchasing an additional 10,892 shares in the last quarter. Carillon Tower Advisers Inc. boosted its stake in shares of WEC Energy Group by 87.6% during the second quarter. Carillon Tower Advisers Inc. now owns 1,161,750 shares of the utilities provider’s stock valued at $96,855,000 after purchasing an additional 542,325 shares in the last quarter. Finally, Isthmus Partners LLC bought a new position in shares of WEC Energy Group during the second quarter valued at approximately $349,000. Institutional investors and hedge funds own 76.87% of the company’s stock.

WEC has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of WEC Energy Group in a research note on Tuesday, October 8th. They set a “neutral” rating and a $99.00 price objective on the stock. UBS Group increased their price objective on shares of WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup increased their target price on shares of WEC Energy Group from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Monday, September 16th. Finally, ValuEngine cut shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $86.50.

In other WEC Energy Group news, CEO Joseph Kevin Fletcher sold 27,105 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $95.69, for a total value of $2,593,677.45. Following the completion of the transaction, the chief executive officer now owns 25,240 shares of the company’s stock, valued at $2,415,215.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mary Beth Straka sold 3,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $97.69, for a total transaction of $341,915.00. Following the completion of the transaction, the vice president now directly owns 5,252 shares of the company’s stock, valued at approximately $513,067.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,615 shares of company stock valued at $15,163,723. Corporate insiders own 0.75% of the company’s stock.

NYSE:WEC opened at $88.87 on Friday. WEC Energy Group Inc has a 52 week low of $66.75 and a 52 week high of $98.19. The firm has a 50 day moving average of $93.78 and a 200 day moving average of $87.52. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $28.70 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 4.18 and a beta of -0.01.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. WEC Energy Group’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts expect that WEC Energy Group Inc will post 3.53 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.66%. WEC Energy Group’s dividend payout ratio is currently 70.66%.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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