Insider Selling: Allen L. Leverett Unloads 115,610 Shares of Wisconsin Energy Corp Stock (WEC)
Wisconsin Energy Corp (NYSE:WEC) President Allen L. Leverett sold 115,610 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $44.50, for a total value of $5,144,645.00. Following the sale, the president now directly owns 45,651 shares in the company, valued at approximately $2,031,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on WEC. Analysts at Zacks reiterated an “outperform” rating on shares of Wisconsin Energy Corp in a research note on Friday, August 1st. They now have a $52.00 price target on the stock. Separately, analysts at CRT Capital reiterated a “fairly valued” rating on shares of Wisconsin Energy Corp in a research note on Monday, July 21st. They now have a $46.00 price target on the stock, up previously from $44.00. Finally, analysts at Robert W. Baird raised their price target on shares of Wisconsin Energy Corp from $47.00 to $50.00 in a research note on Wednesday, June 25th. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.64.
Shares of Wisconsin Energy Corp (NYSE:WEC) traded up 1.19% during mid-day trading on Thursday, hitting $45.14. 2,056,098 shares of the company’s stock traded hands. Wisconsin Energy Corp has a 52 week low of $39.52 and a 52 week high of $49.21. The stock has a 50-day moving average of $44.3 and a 200-day moving average of $45.33. The company has a market cap of $10.180 billion and a price-to-earnings ratio of 16.35.
Wisconsin Energy Corp (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts predict that Wisconsin Energy Corp will post $2.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Tuesday, August 12th.
Wisconsin Energy Corporation is a diversified holding company. The Company operates primarily through two segments: a utility energy segment and a non-utility energy segment.
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