WEC Energy Group, Inc. $WEC Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,896 shares of the utilities provider’s stock after selling 130 shares during the period. Heartland Bank & Trust Co’s holdings in WEC Energy Group were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WEC. GAMMA Investing LLC increased its stake in shares of WEC Energy Group by 18.2% in the 1st quarter. GAMMA Investing LLC now owns 16,829 shares of the utilities provider’s stock valued at $1,834,000 after purchasing an additional 2,587 shares in the last quarter. CX Institutional purchased a new position in shares of WEC Energy Group in the 1st quarter valued at about $193,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of WEC Energy Group by 16.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider’s stock valued at $26,702,000 after purchasing an additional 34,986 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at about $32,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at about $522,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other news, VP Anthony Reese sold 4,177 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the transaction, the vice president directly owned 1,757 shares in the company, valued at $193,797.10. The trade was a 70.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president owned 6,606 shares in the company, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on WEC shares. The Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Scotiabank boosted their price objective on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. UBS Group boosted their price objective on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Citigroup initiated coverage on WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average price target of $112.20.

WEC Energy Group Trading Down 0.1%

Shares of WEC Energy Group stock opened at $115.02 on Tuesday. The stock has a market cap of $37.02 billion, a P/E ratio of 22.03, a P/E/G ratio of 3.16 and a beta of 0.47. The stock’s 50 day simple moving average is $110.02 and its 200-day simple moving average is $107.74. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $115.90. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. Analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 14th. WEC Energy Group’s payout ratio is currently 68.39%.

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.