Daymark Wealth Partners LLC Lowers Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Daymark Wealth Partners LLC lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 23.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,422 shares of the utilities provider’s stock after selling 1,369 shares during the quarter. Daymark Wealth Partners LLC’s holdings in WEC Energy Group were worth $425,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of WEC Energy Group by 5.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock worth $216,000 after acquiring an additional 111 shares during the period. Bradley Foster & Sargent Inc. CT lifted its position in WEC Energy Group by 2.0% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 117 shares during the period. Global X Japan Co. Ltd. lifted its position in WEC Energy Group by 58.1% in the second 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 during the period. Park National Corp OH boosted its holdings in WEC Energy Group by 3.4% in the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 130 shares in the last quarter. Finally, Diversified Trust Co increased its position in WEC Energy Group by 2.7% during the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 134 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Down 0.4 %

WEC opened at $93.93 on Friday. The business’s fifty day simple moving average is $92.99 and its 200 day simple moving average is $85.25. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $97.08. The firm has a market cap of $29.69 billion, a P/E ratio of 21.69, a PEG ratio of 2.42 and a beta of 0.44. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal 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. This represents a $3.34 annualized dividend and a yield of 3.56%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is 77.14%.

Insider Activity

In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock valued at $1,078,058 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on WEC. KeyCorp lifted their price target on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. BMO Capital Markets raised their price objective on shares of 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. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target for the company. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $93.73.

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.