Apollon Wealth Management LLC Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Apollon Wealth Management LLC lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,891 shares of the utilities provider’s stock after selling 692 shares during the period. Apollon Wealth Management LLC’s holdings in WEC Energy Group were worth $855,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV increased its holdings in WEC Energy Group by 7.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,198 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 1,160 shares during the last quarter. United Capital Management of KS Inc. grew its stake in shares of WEC Energy Group by 6.8% in the third quarter. United Capital Management of KS Inc. now owns 34,445 shares of the utilities provider’s stock worth $3,313,000 after acquiring an additional 2,193 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of WEC Energy Group in the third quarter worth $45,000. Tyler Stone Wealth Management grew its stake in shares of WEC Energy Group by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 3,990 shares of the utilities provider’s stock worth $384,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of WEC Energy Group by 82.8% in the third quarter. Axxcess Wealth Management LLC now owns 4,987 shares of the utilities provider’s stock worth $480,000 after acquiring an additional 2,259 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. This trade represents a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC opened at $97.98 on Friday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31. The stock has a market cap of $31.00 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.65 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a fifty day moving average price of $96.15 and a 200 day moving average price of $88.15.

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

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. WEC Energy Group’s payout ratio is 81.66%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. KeyCorp boosted their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America lifted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Scotiabank lifted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.45.

WEC Energy Group Company Profile

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.