WEC Energy Group, Inc. $WEC Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 77.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,795 shares of the utilities provider’s stock after selling 33,168 shares during the quarter. Sterling Capital Management LLC’s holdings in WEC Energy Group were worth $987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annex Advisory Services LLC increased its position in WEC Energy Group by 8.6% during the second quarter. Annex Advisory Services LLC now owns 121,431 shares of the utilities provider’s stock worth $14,179,000 after purchasing an additional 9,591 shares during the last quarter. GSA Capital Partners LLP purchased a new position in WEC Energy Group during the second quarter worth approximately $2,783,000. DAVENPORT & Co LLC boosted its holdings in shares of WEC Energy Group by 15.3% in the 2nd quarter. DAVENPORT & Co LLC now owns 96,430 shares of the utilities provider’s stock valued at $11,260,000 after purchasing an additional 12,773 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at $3,773,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of WEC Energy Group by 16.9% in the 2nd quarter. Hsbc Holdings PLC now owns 617,881 shares of the utilities provider’s stock valued at $72,303,000 after purchasing an additional 89,140 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

NYSE:WEC opened at $111.56 on Wednesday. The business’s 50-day moving average is $105.60 and its two-hundred day moving average is $111.30. WEC Energy Group, Inc. has a 12 month low of $99.80 and a 12 month high of $119.91.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company earned $0.76 EPS. WEC Energy Group’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.60 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.81 annualized dividend and a yield of 3.4%.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $105.58, for a total value of $103,468.40. Following the completion of the transaction, the director owned 19,588 shares in the company, valued at $2,068,101.04. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens set a $109.00 price objective on WEC Energy Group in a report on Friday, October 16th. KeyCorp reduced their target price on WEC Energy Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Barclays lowered their price target on WEC Energy Group from $117.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. HSBC began coverage on WEC Energy Group in a research note on Thursday, October 22nd. They set a “hold” rating and a $106.50 price target for the company. Finally, BTIG Research set a $127.00 price objective on WEC Energy Group in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $117.88.

WEC Energy Group Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy’s principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.