Mitsubishi UFJ Trust & Banking Corp Cuts Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 279,936 shares of the utilities provider’s stock after selling 7,555 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of WEC Energy Group worth $22,988,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Motco boosted its stake in shares of WEC Energy Group by 1.3% during the 1st quarter. Motco now owns 60,560 shares of the utilities provider’s stock worth $4,973,000 after acquiring an additional 757 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in WEC Energy Group by 43.2% during the first quarter. Orion Portfolio Solutions LLC now owns 44,749 shares of the utilities provider’s stock worth $3,675,000 after purchasing an additional 13,504 shares in the last quarter. Blair William & Co. IL grew its holdings in WEC Energy Group by 0.8% in the first quarter. Blair William & Co. IL now owns 45,339 shares of the utilities provider’s stock valued at $3,723,000 after purchasing an additional 347 shares during the period. HBK Sorce Advisory LLC increased its position in shares of WEC Energy Group by 19.1% in the first quarter. HBK Sorce Advisory LLC now owns 4,056 shares of the utilities provider’s stock valued at $333,000 after buying an additional 650 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of WEC Energy Group by 23.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 390,184 shares of the utilities provider’s stock worth $32,042,000 after buying an additional 73,929 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.6 %

NYSE:WEC traded down $0.50 during trading hours on Friday, hitting $81.55. The company had a trading volume of 1,536,910 shares, compared to its average volume of 1,685,126. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $93.37. The company has a market cap of $25.76 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a 50-day moving average of $80.27 and a 200 day moving average of $80.62. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. Sell-side analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WEC shares. KeyCorp lifted their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Scotiabank cut their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets raised their price target on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, 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 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $85.92.

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.