WEC Energy Group (NYSE:WEC) Stock: Insider Margaret Kelsey Sells 18,380 Shares

WEC Energy Group, Inc. (NYSE:WEC) VP Margaret Kelsey sold 18,380 shares of WEC Energy Group stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $117.37, for a total value of $2,157,260.60. Following the sale, the vice president directly owned 12,178 shares of the company’s stock, valued at approximately $1,429,331.86. This trade represents a 60.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

WEC Energy Group Price Performance

Shares of WEC stock opened at $117.54 on Friday. WEC Energy Group, Inc. has a twelve month low of $99.80 and a twelve month high of $120.15. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $107.96 and a two-hundred day simple moving average of $111.86. The stock has a market capitalization of $38.67 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 2.42 and a beta of 0.43.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. On average, analysts predict that WEC Energy Group, Inc. will post 5.61 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 13th. WEC Energy Group’s dividend payout ratio is presently 69.15%.

Analyst Ratings Changes

A number of research analysts have commented on WEC shares. Truist Financial cut their target price on shares of WEC Energy Group from $114.00 to $113.00 and set a “hold” rating on the stock in a research report on Friday, October 16th. BTIG Research reaffirmed a “buy” rating and issued a $130.00 price target on shares of WEC Energy Group in a research report on Friday, October 30th. Weiss Ratings upgraded shares of WEC Energy Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. BMO Capital Markets reissued a “market perform” rating and set a $117.00 price objective (down from $120.00) on shares of WEC Energy Group in a report on Friday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of WEC Energy Group from $121.00 to $116.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.88.

Institutional Investors Weigh In On WEC Energy Group

A number of hedge funds have recently made changes to their positions in the stock. Cornermen Financial LLC bought a new stake in WEC Energy Group during the third quarter valued at about $342,000. Empowered Funds LLC grew its stake in WEC Energy Group by 7.1% in the third quarter. Empowered Funds LLC now owns 32,602 shares of the utilities provider’s stock valued at $3,286,000 after purchasing an additional 2,174 shares during the last quarter. United Southern Bank Trust Department purchased a new position in WEC Energy Group in the third quarter valued at about $652,000. Kovack Advisors Inc. raised its holdings in WEC Energy Group by 1.9% in the third quarter. Kovack Advisors Inc. now owns 6,033 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 115 shares in the last quarter. Finally, Concorde Asset Management LLC bought a new position in WEC Energy Group in the third quarter worth about $293,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Company Profile

WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers. The company’s utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services. WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.