Insight Wealth Strategies LLC Sells 610 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Insight Wealth Strategies LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 14.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,695 shares of the utilities provider’s stock after selling 610 shares during the quarter. Insight Wealth Strategies LLC’s holdings in WEC Energy Group were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC raised its stake in shares of WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares during the period. Wellington Management Group LLP increased its holdings in WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after buying an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares during the period. JPMorgan Chase & Co. boosted its stake in WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after acquiring an additional 695,317 shares during the period. 77.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets upped their price objective on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research note on Monday, December 2nd. Wells Fargo & Company upped their price target on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.40.

WEC Energy Group Stock Down 1.9 %

Shares of NYSE:WEC opened at $91.98 on Tuesday. The firm has a fifty day moving average price of $96.74 and a two-hundred day moving average price of $92.18. The company has a market cap of $29.10 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.59 and a beta of 0.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $102.79.

WEC Energy Group (NYSE:WEC) last posted 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. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. Analysts anticipate that WEC Energy Group, Inc. will post 4.89 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is currently 87.29%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 1,805 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the sale, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,794 shares of company stock valued at $4,866,579 in the last quarter. Insiders own 0.34% of the company’s stock.

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.