Insider Selling: WEC Energy Group, Inc. (NYSE:WEC) VP Sells 1,325 Shares of Stock

WEC Energy Group, Inc. (NYSE:WECGet Rating) VP Anthony Reese sold 1,325 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $102.47, for a total value of $135,772.75. Following the transaction, the vice president now directly owns 905 shares of the company’s stock, valued at $92,735.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NYSE WEC traded down $0.93 during midday trading on Thursday, hitting $100.82. 1,358,666 shares of the company traded hands, compared to its average volume of 1,537,833. The company has a market cap of $31.80 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.81 and a beta of 0.27. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.54. The company’s 50-day simple moving average is $99.81 and its 200-day simple moving average is $95.30. WEC Energy Group, Inc. has a 52 week low of $86.84 and a 52 week high of $106.82.

WEC Energy Group (NYSE:WECGet Rating) last announced its earnings results on Monday, May 2nd. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.13. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.83 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 15.90%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. On average, research analysts predict that WEC Energy Group, Inc. will post 4.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be paid a $0.7275 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 12th. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.83%.

Several research analysts have weighed in on WEC shares. Credit Suisse Group initiated coverage on WEC Energy Group in a research note on Monday, April 25th. They issued a “neutral” rating and a $108.00 target price on the stock. The Goldman Sachs Group upgraded WEC Energy Group from a “sell” rating to a “neutral” rating and set a $99.00 price target on the stock in a research report on Thursday, January 13th. Evercore ISI reaffirmed a “hold” rating and set a $97.00 price target on shares of WEC Energy Group in a research note on Friday, February 4th. StockNews.com assumed coverage on WEC Energy Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $98.00 price target on shares of WEC Energy Group in a research report on Friday, February 4th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $101.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ieq Capital LLC increased its stake in WEC Energy Group by 19.7% in the 3rd quarter. Ieq Capital LLC now owns 3,233 shares of the utilities provider’s stock valued at $285,000 after buying an additional 533 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of WEC Energy Group by 96.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 825 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 405 shares in the last quarter. Boston Private Wealth LLC boosted its position in WEC Energy Group by 7.9% in the third quarter. Boston Private Wealth LLC now owns 5,150 shares of the utilities provider’s stock valued at $454,000 after buying an additional 375 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of WEC Energy Group by 2.8% during the third quarter. CIBC Asset Management Inc now owns 28,532 shares of the utilities provider’s stock valued at $2,517,000 after acquiring an additional 777 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of WEC Energy Group by 1.2% during the third quarter. Geneos Wealth Management Inc. now owns 11,504 shares of the utilities provider’s stock valued at $1,008,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

About WEC Energy Group (Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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