WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,632,674 shares of the utilities provider’s stock after selling 168,448 shares during the quarter. Principal Financial Group Inc.’s holdings in WEC Energy Group were worth $157,031,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its holdings in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of WEC Energy Group in the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. acquired a new position in WEC Energy Group in the 2nd quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new position in WEC Energy Group during the 2nd quarter worth approximately $38,000. Finally, Ashton Thomas Securities LLC acquired a new stake in WEC Energy Group during the 3rd quarter valued at $45,000. Institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. KeyCorp lifted their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. BMO Capital Markets increased their price target on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research report on Monday, December 2nd. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $98.00.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,794 shares of company stock valued at $4,866,579. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

NYSE WEC opened at $93.26 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $29.50 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.59 and a beta of 0.46. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $102.79. The company has a 50 day moving average price of $97.66 and a two-hundred day moving average price of $90.78.

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

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.8925 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.83%. WEC Energy Group’s dividend payout ratio is currently 87.29%.

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.