Janus Henderson Group PLC lessened its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 836,899 shares of the utilities provider’s stock after selling 19,049 shares during the quarter. Janus Henderson Group PLC owned approximately 0.27% of WEC Energy Group worth $55,872,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. MPS Loria Financial Planners LLC purchased a new position in shares of WEC Energy Group in the 3rd quarter worth $244,000. Crossmark Global Holdings Inc. raised its position in shares of WEC Energy Group by 1.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 143,150 shares of the utilities provider’s stock worth $9,557,000 after buying an additional 2,117 shares during the period. Norinchukin Bank The raised its position in shares of WEC Energy Group by 13.5% in the 3rd quarter. Norinchukin Bank The now owns 40,584 shares of the utilities provider’s stock worth $2,709,000 after buying an additional 4,832 shares during the period. Commonwealth Bank of Australia raised its position in shares of WEC Energy Group by 16.8% in the 3rd quarter. Commonwealth Bank of Australia now owns 21,518 shares of the utilities provider’s stock worth $1,430,000 after buying an additional 3,100 shares during the period. Finally, Reaves W H & Co. Inc. increased its holdings in WEC Energy Group by 4.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,038,540 shares of the utilities provider’s stock valued at $69,333,000 after purchasing an additional 43,200 shares in the last quarter. 73.01% of the stock is currently owned by institutional investors.
Shares of NYSE WEC opened at $72.48 on Friday. WEC Energy Group Inc has a 12-month low of $58.48 and a 12-month high of $72.63. The firm has a market capitalization of $22.40 billion, a P/E ratio of 23.08, a P/E/G ratio of 4.86 and a beta of -0.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.34.
The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th were paid a dividend of $0.5525 per share. The ex-dividend date was Tuesday, November 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.05%. WEC Energy Group’s dividend payout ratio is presently 70.38%.
WEC has been the subject of several recent research reports. Credit Suisse Group increased their price target on WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, November 1st. Wells Fargo & Co increased their price target on WEC Energy Group from $71.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, September 17th. ValuEngine upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Monday, November 12th. Citigroup set a $66.00 price target on WEC Energy Group and gave the company a “neutral” rating in a report on Wednesday, October 3rd. Finally, Bank of America downgraded WEC Energy Group from a “buy” rating to a “neutral” rating in a report on Thursday, November 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $70.40.
In other news, Chairman Gale E. Klappa sold 146,618 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $71.68, for a total transaction of $10,509,578.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Kevin Fletcher sold 72,455 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $70.65, for a total value of $5,118,945.75. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.
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WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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.
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