Daymark Wealth Partners LLC Sells 709 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Daymark Wealth Partners LLC cut its position in WEC Energy Group, Inc. (NYSE:WEC) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,348 shares of the utilities provider’s stock after selling 709 shares during the period. Daymark Wealth Partners LLC’s holdings in WEC Energy Group were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Apollon Wealth Management LLC raised its holdings in shares of WEC Energy Group by 2.0% during the fourth quarter. Apollon Wealth Management LLC now owns 9,066 shares of the utilities provider’s stock worth $853,000 after acquiring an additional 175 shares during the period. Empowered Funds LLC boosted its holdings in shares of WEC Energy Group by 23.1% during the 4th quarter. Empowered Funds LLC now owns 14,281 shares of the utilities provider’s stock worth $1,343,000 after buying an additional 2,680 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of WEC Energy Group by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 33,721 shares of the utilities provider’s stock worth $3,171,000 after buying an additional 475 shares during the period. Savant Capital LLC boosted its holdings in shares of WEC Energy Group by 3.6% during the 4th quarter. Savant Capital LLC now owns 22,789 shares of the utilities provider’s stock worth $2,143,000 after buying an additional 794 shares during the period. Finally, Summit Trail Advisors LLC boosted its holdings in shares of WEC Energy Group by 46.2% during the 4th quarter. Summit Trail Advisors LLC now owns 4,646 shares of the utilities provider’s stock worth $437,000 after buying an additional 1,469 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $105.53 on Wednesday. The company has a market cap of $33.68 billion, a P/E ratio of 21.85, a P/E/G ratio of 2.60 and a beta of 0.45. The firm has a 50-day moving average of $106.71 and a 200-day moving average of $102.74. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00.

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

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $0.8975 per share. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.40%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio is presently 69.59%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Barclays boosted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.13.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president now owns 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

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.