Insider Selling: WEC Energy Group, Inc. (WEC) VP Sells $644,400.00 in Stock
WEC Energy Group, Inc. (NYSE:WEC) VP Tom Metcalfe sold 10,000 shares of WEC Energy Group stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total transaction of $644,400.00. Following the transaction, the vice president now directly owns 16,059 shares of the company’s stock, valued at approximately $1,034,841.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of WEC Energy Group, Inc. (WEC) opened at 64.59 on Friday. The company has a market capitalization of $20.38 billion, a P/E ratio of 21.18 and a beta of 0.11. WEC Energy Group, Inc. has a 1-year low of $53.66 and a 1-year high of $64.94. The firm has a 50-day moving average of $62.76 and a 200 day moving average of $61.20.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. WEC Energy Group’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. WEC Energy Group’s dividend payout ratio is currently 68.42%.
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Several research firms have weighed in on WEC. Ladenburg Thalmann Financial Services lifted their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Barclays PLC reaffirmed an “equal weight” rating and issued a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a research note on Sunday, April 23rd. Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.86.
A number of hedge funds have recently added to or reduced their stakes in WEC. Somerset Trust Co raised its stake in WEC Energy Group by 1.9% in the first quarter. Somerset Trust Co now owns 10,955 shares of the utilities provider’s stock worth $664,000 after buying an additional 203 shares in the last quarter. First Financial Corp IN purchased a new stake in WEC Energy Group during the first quarter worth $413,000. Coastline Trust Co raised its stake in WEC Energy Group by 47.8% in the first quarter. Coastline Trust Co now owns 9,279 shares of the utilities provider’s stock worth $563,000 after buying an additional 3,000 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in WEC Energy Group by 13.7% in the first quarter. Nisa Investment Advisors LLC now owns 362,593 shares of the utilities provider’s stock worth $21,984,000 after buying an additional 43,685 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in WEC Energy Group by 68.3% in the first quarter. State of Alaska Department of Revenue now owns 60,678 shares of the utilities provider’s stock worth $3,677,000 after buying an additional 24,622 shares in the last quarter. Institutional investors and hedge funds own 70.78% of the company’s stock.
About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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