Courier Capital LLC Sells 95 Shares of WEC Energy Group, Inc. $WEC

Courier Capital LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,086 shares of the utilities provider’s stock after selling 95 shares during the quarter. Courier Capital LLC’s holdings in WEC Energy Group were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of WEC. Truvestments Capital LLC bought a new position in WEC Energy Group in the 1st quarter valued at $25,000. Nova Wealth Management Inc. bought a new position in shares of WEC Energy Group during the 1st quarter worth $26,000. Bayforest Capital Ltd bought a new position in shares of WEC Energy Group during the 2nd quarter worth $26,000. Hughes Financial Services LLC bought a new position in shares of WEC Energy Group during the 1st quarter worth $28,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the 1st quarter worth $32,000. Institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the sale, the director owned 20,360 shares of the company’s stock, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president directly owned 5,829 shares of the company’s stock, valued at approximately $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WEC has been the topic of a number of recent research reports. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Citigroup initiated coverage on WEC Energy Group in a research report on Friday, October 3rd. They set a “buy” rating and a $131.00 price target on the stock. Finally, Scotiabank increased their price target on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average price target of $112.20.

WEC Energy Group Price Performance

Shares of WEC stock opened at $116.55 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $117.20. The stock’s 50-day moving average is $110.15 and its 200 day moving average is $107.80. The company has a market cap of $37.51 billion, a P/E ratio of 22.33, a PEG ratio of 3.24 and a beta of 0.47. 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 (NYSE:WEC) last released its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The company had revenue of $2.28 billion during the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. Research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

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

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.