WEC Energy Group, Inc. (NYSE:WEC – Get Free Report) Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
WEC Energy Group Stock Performance
Shares of WEC opened at $79.72 on Tuesday. The stock has a market cap of $25.16 billion, a P/E ratio of 18.89, a PEG ratio of 2.73 and a beta of 0.40. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $99.26. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $80.64 and a two-hundred day moving average of $82.15.
WEC Energy Group (NYSE:WEC – Get Free Report) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The business’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. As a group, research analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.
WEC Energy Group Increases Dividend
Institutional Trading of WEC Energy Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its position in WEC Energy Group by 2.3% during the third quarter. Advisors Capital Management LLC now owns 4,799 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 108 shares in the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of WEC Energy Group by 12.1% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,059 shares of the utilities provider’s stock valued at $99,000 after purchasing an additional 114 shares during the period. Portside Wealth Group LLC increased its stake in WEC Energy Group by 1.2% in the 3rd quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider’s stock worth $837,000 after acquiring an additional 127 shares during the last quarter. Balentine LLC boosted its holdings in shares of WEC Energy Group by 2.7% in the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 131 shares in the last quarter. Finally, Blossom Wealth Management boosted its holdings in shares of WEC Energy Group by 3.6% in the 3rd quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 132 shares in the last quarter. 75.75% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Bank of America reaffirmed an “underperform” rating and set a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Barclays dropped their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Wells Fargo & Company reduced their target price on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.17.
Check Out Our Latest Research Report on WEC Energy Group
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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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