Joshua M. Erickson Sells 2,155 Shares of WEC Energy Group, Inc. (NYSE:WEC) Stock

WEC Energy Group, Inc. (NYSE:WEC) VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the sale, the vice president now owns 2,686 shares in the company, valued at approximately $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

WEC Energy Group Stock Up 1.3%

Shares of WEC stock opened at $106.82 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The stock has a market cap of $34.09 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.60 and a beta of 0.46. The company has a 50 day simple moving average of $106.96 and a two-hundred day simple moving average of $102.05.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm posted $1.97 EPS. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $0.8975 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.36%. WEC Energy Group’s dividend payout ratio is presently 69.59%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC bought a new stake in WEC Energy Group during the 1st quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the 1st quarter valued at $32,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $28,000. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on WEC shares. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Finally, Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.13.

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.