Callan Capital LLC Sells 1,217 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Callan Capital LLC reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,035 shares of the utilities provider’s stock after selling 1,217 shares during the quarter. Callan Capital LLC’s holdings in WEC Energy Group were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of WEC Energy Group by 5.3% during the 3rd quarter. UMB Bank n.a. now owns 3,254 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 164 shares during the period. Czech National Bank raised its stake in shares of WEC Energy Group by 47.6% during the 3rd quarter. Czech National Bank now owns 55,132 shares of the utilities provider’s stock valued at $4,441,000 after purchasing an additional 17,791 shares during the period. Spirit of America Management Corp NY raised its stake in shares of WEC Energy Group by 12.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 16,750 shares of the utilities provider’s stock valued at $1,349,000 after purchasing an additional 1,800 shares during the period. McGlone Suttner Wealth Management Inc. raised its stake in shares of WEC Energy Group by 6.7% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 14,893 shares of the utilities provider’s stock valued at $1,200,000 after purchasing an additional 932 shares during the period. Finally, Connecticut Wealth Management LLC bought a new stake in shares of WEC Energy Group during the 3rd quarter valued at $300,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Down 1.6 %

WEC stock traded down $1.31 during trading on Friday, hitting $81.50. 1,945,636 shares of the company traded hands, compared to its average volume of 2,126,661. The firm has a market capitalization of $25.71 billion, a PE ratio of 19.31, a P/E/G ratio of 2.86 and a beta of 0.40. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $97.34. The company has a 50-day moving average of $80.25 and a 200-day moving average of $81.43. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. WEC Energy Group’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. Analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s payout ratio is 79.15%.

Insider Transactions at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America reiterated an “underperform” rating and set a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. The Goldman Sachs Group started coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. Scotiabank reduced their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Finally, Barclays reduced their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average price target of $86.64.

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.