AGF Management Ltd. Has $3.14 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

AGF Management Ltd. cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,976 shares of the utilities provider’s stock after selling 5,223 shares during the quarter. AGF Management Ltd.’s holdings in WEC Energy Group were worth $3,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. grew its stake in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the second quarter worth $29,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of WEC Energy Group in the 1st quarter valued at $32,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the sale, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares in the company, valued at $1,934,932.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock valued at $1,078,058 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WEC. KeyCorp lowered their target price on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. BMO Capital Markets upped their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Barclays raised their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $90.17.

WEC Energy Group Stock Performance

WEC stock opened at $95.01 on Friday. The firm has a market cap of $30.03 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.41 and a beta of 0.44. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average price of $87.79 and a 200-day moving average price of $83.20. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $96.15.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.52%. WEC Energy Group’s payout ratio is presently 72.93%.

WEC Energy Group 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.