Insider Selling: WEC Energy Group, Inc. (NYSE:WEC) Director Sells $2,715,500.00 in Stock

WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WEC Energy Group Trading Up 3.0 %

NYSE WEC opened at $106.89 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock’s 50-day simple moving average is $100.03 and its two-hundred day simple moving average is $97.49. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $108.87. The company has a market capitalization of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for 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 business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Institutional Investors Weigh In On WEC Energy Group

A number of hedge funds have recently made changes to their positions in WEC. Stephens Inc. AR lifted its stake in WEC Energy Group by 34.4% in the third quarter. Stephens Inc. AR now owns 4,906 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 1,257 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of WEC Energy Group by 3.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,677 shares of the utilities provider’s stock valued at $642,000 after acquiring an additional 250 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in WEC Energy Group during the 3rd quarter valued at about $389,000. Janney Montgomery Scott LLC grew its position in WEC Energy Group by 14.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 69,286 shares of the utilities provider’s stock worth $6,664,000 after acquiring an additional 8,628 shares during the last quarter. Finally, Roman Butler Fullerton & Co. purchased a new position in WEC Energy Group in the 3rd quarter worth approximately $225,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WEC shares. BMO Capital Markets increased their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, KeyCorp boosted their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.88.

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.