Mutual of America Capital Management LLC Sells 908 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mutual of America Capital Management LLC lowered its stake in WEC Energy Group, Inc. (NYSE:WEC) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,918 shares of the utilities provider’s stock after selling 908 shares during the period. Mutual of America Capital Management LLC’s holdings in WEC Energy Group were worth $3,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WEC. Global X Japan Co. Ltd. lifted its position in WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC bought a new stake in WEC Energy Group during the 2nd quarter valued at $29,000. Coastline Trust Co purchased a new stake in WEC Energy Group during the 3rd quarter valued at $29,000. William B. Walkup & Associates Inc. bought a new stake in WEC Energy Group in the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the second quarter valued at about $36,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. This represents a 46.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The trade was a 43.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,045 shares of company stock worth $1,038,807. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America boosted their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Barclays raised their price target on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $100.97 on Friday. The company has a 50 day simple moving average of $96.60 and a two-hundred day simple moving average of $88.72. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $101.00. The company has a market capitalization of $31.94 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.69 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

WEC Energy Group Company 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.