Key Points
- WEC VP Joshua Erickson sold 100 shares on Nov. 7 at an average price of $112.47 for $11,247, reducing his stake by 3.72% to 2,586 shares (about $290,847).
- WEC announced a quarterly dividend of $0.8925 per share (annualized $3.57, yield 3.2%), with record and ex-dividend date on Nov. 14 and payment on Dec. 1.
- Shares traded around $111.93 (down $0.18); the company has a market cap of $36.41B and a P/E of 21.17, and analysts’ consensus rating is a “Moderate Buy” with a $120.21 target.
WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) VP Joshua Erickson sold 100 shares of WEC Energy Group 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 sale, the vice president directly owned 2,586 shares of the company's stock, valued at approximately $290,847.42. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
WEC Energy Group Trading Down 0.2%
Shares of WEC Energy Group stock traded down $0.18 during trading on Thursday, hitting $111.93. 291,229 shares of the company were exchanged, compared to its average volume of 2,196,209. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The firm has a market capitalization of $36.41 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 3.17 and a beta of 0.48. The firm's fifty day moving average price is $112.74 and its 200 day moving average price is $108.88. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $118.18.
WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data 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 during the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group's payout ratio is presently 67.49%.
Institutional Investors Weigh In On WEC Energy Group
A number of institutional investors have recently added to or reduced their stakes in the business. Horizon Investment Services LLC bought a new position in shares of WEC Energy Group in the first quarter valued at approximately $379,000. Los Angeles Capital Management LLC grew its stake in shares of WEC Energy Group by 2,964.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after acquiring an additional 105,106 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of WEC Energy Group during the first quarter valued at about $10,333,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in WEC Energy Group by 10.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 564,418 shares of the utilities provider's stock worth $61,510,000 after purchasing an additional 51,631 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in WEC Energy Group by 3.9% in the 1st quarter. Victory Capital Management Inc. now owns 411,248 shares of the utilities provider's stock worth $44,818,000 after purchasing an additional 15,531 shares in the last quarter. 77.20% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
WEC has been the topic of a number of research analyst reports. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, November 1st. 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 price objective on the stock. KeyCorp lifted their price target on WEC Energy Group from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, October 15th. BMO Capital Markets raised their price objective on WEC Energy Group from $114.00 to $120.00 and gave the company a "market perform" rating in a research report on Tuesday, October 21st. Finally, LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a "neutral" rating to a "buy" rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.21.
Read Our Latest Research Report on WEC
About WEC Energy Group
(
Get Free Report)
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.
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