WEC Energy Group, Inc. (NYSE:WEC) Director Sells $4,009,181.64 in Stock

WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now owns 273,248 shares of the company’s stock, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

WEC Energy Group Stock Down 0.3 %

Shares of WEC stock opened at $100.66 on Monday. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $101.43. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.73 and a beta of 0.44. The firm’s 50-day moving average is $96.69 and its 200-day moving average is $88.91. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. Sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be issued a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.32%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Institutional Trading of WEC Energy Group

Several institutional investors have recently added to or reduced their stakes in WEC. Global X Japan Co. Ltd. boosted its holdings in WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC bought a new position in WEC Energy Group during the 2nd quarter worth $29,000. Coastline Trust Co acquired a new position in WEC Energy Group in the 3rd quarter valued at $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth $36,000. 77.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WEC has been the subject of a number of recent analyst reports. KeyCorp lifted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Barclays lifted their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Bank of America boosted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company increased their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.45.

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.