Insider Selling: WEC Energy Group (NYSE:WEC) VP Sells 100 Shares of Stock

WEC Energy Group, Inc. (NYSE:WEC) VP Joshua Erickson sold 100 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.47, for a total value of $11,247.00. Following the transaction, the vice president directly owned 2,586 shares of the company’s stock, valued at $290,847.42. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

WEC Energy Group Trading Down 0.7%

NYSE WEC traded down $0.84 on Wednesday, reaching $111.66. The company had a trading volume of 43,059 shares, compared to its average volume of 2,194,326. The firm has a market cap of $36.32 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 3.17 and a beta of 0.48. The business has a 50 day moving average of $112.63 and a two-hundred day moving average of $108.86. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $118.18.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The firm had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s payout ratio is currently 67.49%.

Institutional Investors Weigh In On WEC Energy Group

A number of institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC purchased a new position in shares of WEC Energy Group in the first quarter worth $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group during the 1st quarter valued at about $26,000. Bayforest Capital Ltd purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $26,000. CoreFirst Bank & Trust purchased a new position in shares of WEC Energy Group during the second quarter valued at approximately $26,000. Finally, Osterweis Capital Management Inc. bought a new position in WEC Energy Group during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WEC. Barclays increased their target price on WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Citigroup initiated coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They set a “buy” rating and a $131.00 price target for the company. KeyCorp boosted their price objective on shares of WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, TD Cowen started coverage on shares of WEC Energy Group in a report on Thursday, October 16th. They set a “hold” rating and a $125.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.21.

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.