Insider Selling: WEC Energy Group, Inc. (WEC) Director Sells $2,082,225.96 in Stock
WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa sold 32,148 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $64.77, for a total transaction of $2,082,225.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Gale E. Klappa also recently made the following trade(s):
- On Monday, August 21st, Gale E. Klappa sold 10,000 shares of WEC Energy Group stock. The shares were sold at an average price of $64.86, for a total transaction of $648,600.00.
- On Wednesday, August 16th, Gale E. Klappa sold 100,500 shares of WEC Energy Group stock. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 65.05 on Thursday. WEC Energy Group, Inc. has a 1-year low of $53.66 and a 1-year high of $65.11. The firm has a market capitalization of $20.53 billion, a P/E ratio of 21.33 and a beta of 0.11. The stock has a 50 day moving average of $63.02 and a 200-day moving average of $61.38.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
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A number of hedge funds have recently added to or reduced their stakes in WEC. Oakworth Capital Inc. increased its stake in WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock worth $100,000 after buying an additional 132 shares during the last quarter. Trust Co. of Vermont increased its stake in WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock worth $106,000 after buying an additional 187 shares during the last quarter. Delphi Private Advisors LLC increased its stake in WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after buying an additional 1,276 shares during the last quarter. Country Trust Bank increased its stake in WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after buying an additional 112 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in WEC Energy Group during the second quarter worth about $132,000. 70.78% of the stock is currently owned by institutional investors and hedge funds.
WEC has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Ladenburg Thalmann Financial Services raised their target price on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.86.
WEC Energy Group Company Profile
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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