WEC Energy Group Inc (NYSE:WEC) Director Barbara L. Bowles sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $89.73, for a total transaction of $89,730.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
WEC traded down $0.61 during trading on Wednesday, reaching $89.06. The stock had a trading volume of 923,234 shares, compared to its average volume of 1,682,839. The stock has a market capitalization of $28.20 billion, a PE ratio of 26.66, a PEG ratio of 4.32 and a beta of 0.11. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. WEC Energy Group Inc has a one year low of $64.96 and a one year high of $90.43. The firm’s 50-day moving average is $86.29.
WEC Energy Group (NYSE:WEC) last released its earnings results on Monday, August 5th. The utilities provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. On average, analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 13th. This represents a $2.36 annualized dividend and a yield of 2.65%. WEC Energy Group’s payout ratio is 70.66%.
Several research analysts have recently weighed in on WEC shares. Bank of America cut shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $82.00 to $85.00 in a report on Monday, June 24th. Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the company from $84.00 to $85.00 in a research note on Tuesday, August 6th. They noted that the move was a valuation call. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the company a “sell” rating in a research note on Friday, April 26th. Scotiabank cut WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $78.00 in a research note on Wednesday, May 8th. Finally, KeyCorp initiated coverage on WEC Energy Group in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $76.75.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Allied Advisory Services Inc. boosted its position in WEC Energy Group by 2.4% during the second quarter. First Allied Advisory Services Inc. now owns 4,734 shares of the utilities provider’s stock valued at $395,000 after buying an additional 112 shares during the period. 6 Meridian boosted its position in WEC Energy Group by 1.8% during the second quarter. 6 Meridian now owns 6,829 shares of the utilities provider’s stock valued at $569,000 after buying an additional 123 shares during the period. Carroll Financial Associates Inc. boosted its position in WEC Energy Group by 5.6% during the second quarter. Carroll Financial Associates Inc. now owns 2,345 shares of the utilities provider’s stock valued at $195,000 after buying an additional 125 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of WEC Energy Group by 1.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,026 shares of the utilities provider’s stock worth $714,000 after purchasing an additional 130 shares during the period. Finally, Almanack Investment Partners LLC. boosted its holdings in shares of WEC Energy Group by 3.0% during the second quarter. Almanack Investment Partners LLC. now owns 4,528 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.
About WEC Energy Group
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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