WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 33.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,900 shares of the utilities provider’s stock after selling 9,400 shares during the period. Cornerstone Advisors LLC’s holdings in WEC Energy Group were worth $1,483,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. boosted its holdings in 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 valued at $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in WEC Energy Group in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WEC shares. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Bank of America boosted their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price target on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays boosted their price target on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.42.

WEC Energy Group Trading Up 0.3 %

Shares of WEC opened at $96.13 on Tuesday. The stock has a fifty day moving average of $88.52 and a two-hundred day moving average of $83.54. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The company has a market capitalization of $30.38 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $96.65.

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

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.47%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction 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 directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction 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 sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. In the last three months, insiders sold 11,702 shares of company stock worth $1,078,058. Insiders own 0.34% of the company’s stock.

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.