Shell Asset Management Co. Sells 19,726 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Shell Asset Management Co. lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WECGet Rating) by 27.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,212 shares of the utilities provider’s stock after selling 19,726 shares during the period. Shell Asset Management Co.’s holdings in WEC Energy Group were worth $5,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elmwood Wealth Management Inc. bought a new position in shares of WEC Energy Group during the 4th quarter valued at about $36,000. Maryland Capital Advisors Inc. bought a new position in shares of WEC Energy Group in the 4th quarter valued at about $38,000. Atticus Wealth Management LLC bought a new position in shares of WEC Energy Group in the 4th quarter valued at about $41,000. CVA Family Office LLC bought a new position in shares of WEC Energy Group in the 4th quarter valued at about $42,000. Finally, Dark Forest Capital Management LP bought a new position in shares of WEC Energy Group in the 3rd quarter valued at about $39,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE WEC traded down $2.73 during trading hours on Friday, reaching $100.05. The stock had a trading volume of 2,017,916 shares, compared to its average volume of 1,221,659. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22. The firm has a market cap of $31.56 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 3.90 and a beta of 0.29. The business’s fifty day moving average price is $97.97 and its two-hundred day moving average price is $94.67. WEC Energy Group, Inc. has a 52-week low of $86.84 and a 52-week high of $106.82.

WEC Energy Group (NYSE:WECGet Rating) last announced its quarterly earnings results on Thursday, February 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $1.86 billion. WEC Energy Group had a return on equity of 11.80% and a net margin of 15.64%. WEC Energy Group’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. Equities research analysts anticipate that WEC Energy Group, Inc. will post 4.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be issued a $0.7275 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.91%. WEC Energy Group’s payout ratio is 70.80%.

WEC has been the subject of a number of analyst reports. Evercore ISI reaffirmed a “hold” rating and issued a $97.00 price target on shares of WEC Energy Group in a report on Friday, February 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $98.00 price target on shares of WEC Energy Group in a report on Friday, February 4th. StockNews.com initiated coverage on shares of WEC Energy Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group started coverage on shares of WEC Energy Group in a report on Monday, April 25th. They issued a “neutral” rating and a $108.00 price target for the company. Finally, The Goldman Sachs Group raised shares of WEC Energy Group from a “sell” rating to a “neutral” rating and set a $99.00 price objective for the company in a research note on Thursday, January 13th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.00.

About WEC Energy Group (Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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.

Further Reading

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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