WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,057 shares of the utilities provider’s stock after selling 365 shares during the period. Daymark Wealth Partners LLC’s holdings in WEC Energy Group were worth $382,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank lifted its position in shares of WEC Energy Group by 7.0% during the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after acquiring an additional 4,205 shares during the last quarter. Annex Advisory Services LLC raised its position in shares of WEC Energy Group by 6.5% during the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the period. DRW Securities LLC acquired a new stake in shares of WEC Energy Group during the third quarter worth $1,392,000. Matrix Trust Co purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at $1,538,000. Finally, Motley Fool Wealth Management LLC boosted its position in shares of WEC Energy Group by 51.0% in the 3rd quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock valued at $2,883,000 after purchasing an additional 10,126 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insider Activity at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,794 shares of company stock valued at $4,866,579. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WEC shares. Wells Fargo & Company boosted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. KeyCorp boosted their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.40.

WEC Energy Group Price Performance

WEC opened at $97.39 on Friday. The stock has a fifty day moving average price of $96.71 and a 200 day moving average price of $93.60. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $102.79. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.54 and a beta of 0.48.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results 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 business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company earned $1.00 EPS. The firm’s revenue was down 4.8% on a year-over-year basis. Analysts forecast that WEC Energy Group, Inc. will post 4.89 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.43%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

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.