Insider Selling: WEC Energy Group, Inc. (NYSE:WEC) Director Sells 750 Shares of Stock

WEC Energy Group, Inc. (NYSE:WEC) Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 21,876 shares in the company, valued at approximately $1,934,932.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

WEC Energy Group Price Performance

Shares of NYSE:WEC traded up $0.44 during midday trading on Monday, reaching $88.42. 479,511 shares of the company were exchanged, compared to its average volume of 2,168,262. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The business’s fifty day moving average is $81.33 and its two-hundred day moving average is $80.94. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $92.23. The stock has a market cap of $27.95 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.41.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share 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 firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. WEC Energy Group’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.78%. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Hedge Funds Weigh In On WEC Energy Group

Institutional investors have recently bought and sold shares of the business. Northwest Bank & Trust Co bought a new position in WEC Energy Group during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group in the first quarter valued at $25,000. Global X Japan Co. Ltd. raised its stake in shares of 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 acquiring an additional 118 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at $26,000. Finally, Olistico Wealth LLC purchased a new stake in shares of WEC Energy Group in the second quarter valued at $29,000. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WEC shares. Scotiabank dropped their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. KeyCorp reduced their target price on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Barclays upped their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $87.31.

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.