Mattern Capital Management LLC Sells 3,350 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mattern Capital Management LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,430 shares of the utilities provider’s stock after selling 3,350 shares during the quarter. Mattern Capital Management LLC’s holdings in WEC Energy Group were worth $8,316,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Annex Advisory Services LLC increased its holdings in shares of WEC Energy Group by 6.5% in the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the last quarter. DRW Securities LLC bought a new stake in WEC Energy Group during the third quarter worth approximately $1,392,000. Matrix Trust Co bought a new stake in WEC Energy Group during the fourth quarter worth approximately $1,538,000. Motley Fool Wealth Management LLC increased its stake in WEC Energy Group by 51.0% during the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock worth $2,883,000 after acquiring an additional 10,126 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in WEC Energy Group by 20.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after acquiring an additional 78,580 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Up 0.0 %

Shares of NYSE WEC opened at $103.59 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm has a market capitalization of $32.77 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.60 and a beta of 0.49. The stock has a 50 day moving average price of $97.60 and a 200 day moving average price of $96.22. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $104.15.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. Sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.22%. WEC Energy Group’s payout ratio is 73.91%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Scotiabank boosted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. KeyCorp boosted their target price on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $101.88.

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.