Resources Management Corp CT ADV Sells 113 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Resources Management Corp CT ADV lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,909 shares of the utilities provider’s stock after selling 113 shares during the period. Resources Management Corp CT ADV’s holdings in WEC Energy Group were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Duff & Phelps Investment Management Co. grew its position in WEC Energy Group by 11.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,365,851 shares of the utilities provider’s stock valued at $131,368,000 after acquiring an additional 142,666 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of WEC Energy Group by 64.9% during the third quarter. Continuum Advisory LLC now owns 4,349 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 1,711 shares during the last quarter. Drucker Wealth 3.0 LLC grew its holdings in shares of WEC Energy Group by 5.4% during the third quarter. Drucker Wealth 3.0 LLC now owns 20,671 shares of the utilities provider’s stock worth $1,988,000 after purchasing an additional 1,060 shares during the last quarter. Cape Cod Five Cents Savings Bank grew its holdings in shares of WEC Energy Group by 1.4% during the third quarter. Cape Cod Five Cents Savings Bank now owns 41,271 shares of the utilities provider’s stock worth $3,969,000 after purchasing an additional 551 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of WEC Energy Group by 35.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 126,085 shares of the utilities provider’s stock worth $12,127,000 after purchasing an additional 33,327 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WEC. Bank of America boosted their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group assumed coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective on the stock. Scotiabank lifted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday. Finally, BMO Capital Markets lifted their price objective on WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $96.18.

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of WEC Energy Group stock in a transaction on Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the transaction, the director now owns 273,248 shares of the company’s stock, valued at $27,160,851.20. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.44% of the stock is currently owned by insiders.

WEC Energy Group Stock Performance

NYSE:WEC opened at $97.15 on Wednesday. The business’s 50-day moving average price is $97.69 and its two-hundred day moving average price is $90.09. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79. The stock has a market cap of $30.73 billion, a P/E ratio of 23.75, a PEG ratio of 2.63 and a beta of 0.46. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.89 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.67%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

About WEC Energy Group

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.