WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,397 shares of the utilities provider’s stock after selling 1,403 shares during the quarter. Thrivent Financial for Lutherans’ holdings in WEC Energy Group were worth $1,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $25,000. Northwest Bank & Trust Co acquired a new position in WEC Energy Group in the 4th quarter valued at about $25,000. Global X Japan Co. Ltd. boosted its holdings in WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of WEC Energy Group in the 2nd quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 in the company, valued at approximately $340,712.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. Insiders sold a total of 11,702 shares of company stock worth $1,078,058 over the last 90 days. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC opened at $96.26 on Thursday. The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $97.08. The firm has a 50-day simple moving average of $91.95 and a 200-day simple moving average of $84.74. 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 (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $0.92 EPS. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.835 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.47%. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Scotiabank boosted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America increased their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.69.

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.