WEC Energy Group Inc (NYSE:WEC) CEO Charles R. Matthews sold 14,481 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $95.05, for a total value of $1,376,419.05. Following the sale, the chief executive officer now directly owns 16,223 shares in the company, valued at approximately $1,541,996.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of WEC stock opened at $95.26 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 1.07. WEC Energy Group Inc has a fifty-two week low of $68.01 and a fifty-two week high of $109.53. The stock has a market capitalization of $30.03 billion, a P/E ratio of 25.89, a P/E/G ratio of 4.25 and a beta of 0.17. The stock has a 50-day simple moving average of $89.91 and a 200 day simple moving average of $92.92.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.11. WEC Energy Group had a return on equity of 11.40% and a net margin of 16.09%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company posted $1.33 EPS. WEC Energy Group’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that WEC Energy Group Inc will post 3.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.6325 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.53 dividend on an annualized basis and a dividend yield of 2.66%. WEC Energy Group’s dividend payout ratio (DPR) is 70.67%.
A number of equities research analysts have recently weighed in on WEC shares. Wells Fargo & Co cut their price target on WEC Energy Group from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 5th. UBS Group cut their price target on WEC Energy Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a report on Monday, June 22nd. KeyCorp boosted their target price on WEC Energy Group from $96.00 to $99.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. CSFB decreased their price target on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating for the company in a research note on Thursday, April 30th. Finally, Credit Suisse Group dropped their price objective on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating on the stock in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $87.50.
Several large investors have recently added to or reduced their stakes in WEC. Girard Partners LTD. increased its holdings in shares of WEC Energy Group by 1,011.6% during the 1st quarter. Girard Partners LTD. now owns 394,556 shares of the utilities provider’s stock valued at $3,647,000 after acquiring an additional 359,060 shares during the last quarter. State Street Corp grew its holdings in WEC Energy Group by 2.0% in the 1st quarter. State Street Corp now owns 18,076,710 shares of the utilities provider’s stock valued at $1,593,100,000 after buying an additional 356,268 shares during the last quarter. Swiss National Bank grew its holdings in WEC Energy Group by 19.4% in the 1st quarter. Swiss National Bank now owns 1,947,699 shares of the utilities provider’s stock valued at $171,651,000 after buying an additional 316,100 shares during the last quarter. APG Asset Management N.V. grew its holdings in WEC Energy Group by 89.7% in the 1st quarter. APG Asset Management N.V. now owns 662,172 shares of the utilities provider’s stock valued at $58,357,000 after buying an additional 313,162 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in WEC Energy Group in the 1st quarter valued at approximately $20,735,000. Institutional investors and hedge funds own 74.24% of the company’s stock.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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