WEC Energy Group, Inc. $WEC Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.6% during the second quarter, HoldingsChannel reports. The fund owned 4,896 shares of the utilities provider’s stock after selling 130 shares during the period. Heartland Bank & Trust Co’s holdings in WEC Energy Group were worth $510,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WEC. GAMMA Investing LLC lifted its holdings in WEC Energy Group by 18.2% in the first quarter. GAMMA Investing LLC now owns 16,829 shares of the utilities provider’s stock valued at $1,834,000 after acquiring an additional 2,587 shares during the last quarter. CX Institutional acquired a new position in WEC Energy Group in the first quarter valued at approximately $193,000. Wealth Enhancement Advisory Services LLC lifted its stake in WEC Energy Group by 16.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider’s stock worth $26,702,000 after purchasing an additional 34,986 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group during the first quarter worth $32,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in WEC Energy Group during the first quarter worth $522,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gale E. Klappa sold 5,960 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $110.98, for a total value of $661,440.80. Following the completion of the sale, the director owned 274,969 shares in the company, valued at $30,516,059.62. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Krueger sold 5,930 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares of the company’s stock, valued at approximately $734,190.84. The trade was a 47.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 over the last quarter. 0.50% of the stock is owned by insiders.

WEC Energy Group Stock Performance

NYSE:WEC opened at $115.02 on Tuesday. The firm has a market capitalization of $37.02 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. The business’s fifty day moving average price is $110.02 and its 200 day moving average price is $107.74. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $115.90.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.28 billion during the quarter. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.8925 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.1%. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEC. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday. Scotiabank upped their price target on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.20.

WEC Energy Group 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.