WEC Energy Group, Inc. (NYSE:WEC) CEO Sells $677,980.80 in Stock

WEC Energy Group, Inc. (NYSE:WEC) CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

WEC Energy Group Stock Up 0.3 %

WEC Energy Group stock opened at $101.83 on Thursday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 2.75 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The firm has a 50 day simple moving average of $97.05 and a 200 day simple moving average of $89.22.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. On average, analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.28%. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Czech National Bank grew its position in shares of WEC Energy Group by 7.0% during the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after purchasing an additional 4,205 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of WEC Energy Group by 2,949.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock worth $18,204,000 after acquiring an additional 224,410 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of WEC Energy Group by 13.8% during the 3rd quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider’s stock worth $6,047,000 after acquiring an additional 7,646 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of WEC Energy Group by 35.0% during the 2nd quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock worth $2,310,000 after acquiring an additional 7,640 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of WEC Energy Group by 359.5% during the 1st quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock worth $9,453,000 after acquiring an additional 90,062 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WEC has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a “hold” rating and a $102.00 price target for the company. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. KeyCorp raised their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. BMO Capital Markets raised their price target on shares of 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. Finally, Scotiabank raised their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.45.

WEC Energy Group Company 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.