Benjamin Edwards Inc. Sells 955 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Benjamin Edwards Inc. reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,011 shares of the utilities provider’s stock after selling 955 shares during the quarter. WEC Energy Group makes up about 0.9% of Benjamin Edwards Inc.’s portfolio, making the stock its 23rd biggest holding. Benjamin Edwards Inc.’s holdings in WEC Energy Group were worth $4,473,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. boosted its stake in shares of WEC Energy Group by 3.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 501,902 shares of the utilities provider’s stock worth $39,379,000 after acquiring an additional 16,026 shares during the period. MQS Management LLC boosted its stake in WEC Energy Group by 4.7% in the 2nd quarter. MQS Management LLC now owns 3,901 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 174 shares during the period. Richardson Financial Services Inc. boosted its stake in WEC Energy Group by 13.4% in the 2nd quarter. Richardson Financial Services Inc. now owns 1,743 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 206 shares during the period. Hsbc Holdings PLC boosted its stake in WEC Energy Group by 6.3% in the 2nd quarter. Hsbc Holdings PLC now owns 549,669 shares of the utilities provider’s stock valued at $43,104,000 after purchasing an additional 32,395 shares during the period. Finally, Beck Bode LLC bought a new stake in WEC Energy Group in the 2nd quarter valued at $11,633,000. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,702 shares of company stock valued at $1,078,058. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $93.78 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $96.65. The stock has a market capitalization of $29.62 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. The stock has a fifty day moving average of $89.48 and a 200-day moving average of $83.82.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.835 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.56%. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Scotiabank boosted their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America boosted their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Barclays upped their target price on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $91.31.

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.