Clark Capital Management Group Inc. reduced its holdings in WEC Energy Group Inc (NYSE:WEC) by 4.9% in the 1st quarter, HoldingsChannel reports. The fund owned 248,548 shares of the utilities provider’s stock after selling 12,849 shares during the period. Clark Capital Management Group Inc.’s holdings in WEC Energy Group were worth $19,655,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc lifted its stake in WEC Energy Group by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 34,749,404 shares of the utilities provider’s stock worth $2,319,871,000 after acquiring an additional 499,213 shares in the last quarter. BlackRock Inc. lifted its stake in WEC Energy Group by 5.7% in the 4th quarter. BlackRock Inc. now owns 29,050,912 shares of the utilities provider’s stock worth $2,012,066,000 after acquiring an additional 1,563,355 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in WEC Energy Group by 17.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,999,731 shares of the utilities provider’s stock worth $600,825,000 after acquiring an additional 1,336,719 shares in the last quarter. Bank of America Corp DE lifted its stake in WEC Energy Group by 2.5% in the 4th quarter. Bank of America Corp DE now owns 6,266,922 shares of the utilities provider’s stock worth $434,047,000 after acquiring an additional 154,574 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in WEC Energy Group by 4.8% in the 4th quarter. Northern Trust Corp now owns 5,241,454 shares of the utilities provider’s stock worth $363,024,000 after acquiring an additional 241,153 shares in the last quarter. 74.95% of the stock is owned by hedge funds and other institutional investors.
Shares of WEC stock opened at $81.27 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02. WEC Energy Group Inc has a fifty-two week low of $58.48 and a fifty-two week high of $81.54. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 5.04 and a beta of 0.16.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s dividend payout ratio is 70.66%.
Several research analysts have weighed in on the company. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $71.00 to $70.00 in a research report on Monday, April 8th. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Argus upped their target price on WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Scotiabank lowered WEC Energy Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $76.00 to $78.00 in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. WEC Energy Group presently has an average rating of “Hold” and an average price target of $74.33.
In other news, Director Barbara L. Bowles sold 2,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $78.35, for a total transaction of $156,700.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Scott J. Lauber sold 3,650 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $76.26, for a total value of $278,349.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,816 shares of company stock worth $20,498,745. 0.75% of the stock is currently owned by insiders.
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About WEC Energy Group
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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