Prudential Financial Inc. Reduces Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Prudential Financial Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 0.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 273,282 shares of the utilities provider’s stock after selling 785 shares during the period. Prudential Financial Inc.’s holdings in WEC Energy Group were worth $27,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Cohen & Steers Inc. lifted its position in WEC Energy Group by 7,382.2% during the 1st quarter. Cohen & Steers Inc. now owns 1,408,300 shares of the utilities provider’s stock worth $140,562,000 after acquiring an additional 1,389,478 shares in the last quarter. State Street Corp lifted its position in WEC Energy Group by 7.2% during the 1st quarter. State Street Corp now owns 18,466,413 shares of the utilities provider’s stock worth $1,843,133,000 after acquiring an additional 1,232,877 shares in the last quarter. Renaissance Technologies LLC lifted its position in WEC Energy Group by 563.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock worth $131,757,000 after acquiring an additional 1,121,075 shares in the last quarter. Millennium Management LLC lifted its position in WEC Energy Group by 193.1% during the 2nd quarter. Millennium Management LLC now owns 1,647,657 shares of the utilities provider’s stock worth $165,820,000 after acquiring an additional 1,085,475 shares in the last quarter. Finally, Echo Street Capital Management LLC lifted its position in WEC Energy Group by 4,603.9% during the 1st quarter. Echo Street Capital Management LLC now owns 1,061,488 shares of the utilities provider’s stock worth $105,947,000 after acquiring an additional 1,038,922 shares in the last quarter. Hedge funds and other institutional investors own 75.03% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $95.73 on Monday. The company has a market capitalization of $30.20 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 3.54 and a beta of 0.36. The business has a 50 day simple moving average of $91.60 and a 200-day simple moving average of $97.89. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a twelve month low of $80.82 and a twelve month high of $108.39.

Want More Great Investing Ideas?

WEC Energy Group (NYSE:WEC – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The utilities provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.83 billion. WEC Energy Group had a return on equity of 12.13% and a net margin of 14.94%. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 4.4 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Monday, November 14th were paid a dividend of $0.7275 per share. The ex-dividend date was Thursday, November 10th. This represents a $2.91 dividend on an annualized basis and a yield of 3.04%. WEC Energy Group’s payout ratio is currently 66.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WEC shares. Wells Fargo & Company reduced their price target on WEC Energy Group from $114.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Guggenheim dropped their price objective on WEC Energy Group from $104.00 to $95.00 in a report on Monday, October 24th. Mizuho dropped their price objective on WEC Energy Group from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, October 17th. TheStreet downgraded WEC Energy Group from a “b” rating to a “c+” rating in a report on Tuesday, November 1st. Finally, BMO Capital Markets lifted their price objective on WEC Energy Group from $93.00 to $100.00 in a report on Monday, December 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.09.

Insiders Place Their Bets

In other WEC Energy Group news, Director Glen E. Tellock purchased 1,000 shares of WEC Energy Group stock in a transaction on Tuesday, November 8th. The stock was bought at an average price of $91.39 per share, for a total transaction of $91,390.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $91,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 950 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $97.59, for a total transaction of $92,710.50. Following the completion of the transaction, the director now owns 21,375 shares in the company, valued at approximately $2,085,986.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glen E. Tellock acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was purchased at an average price of $91.39 per share, with a total value of $91,390.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $91,390. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.