Insider Selling: WEC Energy Group (NYSE:WEC) VP Sells 100 Shares of Stock

WEC Energy Group, Inc. (NYSE:WEC) VP Joshua Erickson sold 100 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $112.47, for a total transaction of $11,247.00. Following the sale, the vice president directly owned 2,586 shares of the company’s stock, valued at approximately $290,847.42. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

WEC Energy Group Stock Performance

WEC Energy Group stock traded down $0.84 during trading on Wednesday, reaching $111.66. The company had a trading volume of 43,059 shares, compared to its average volume of 2,194,326. The firm has a market capitalization of $36.32 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 3.17 and a beta of 0.48. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. The firm’s 50-day simple moving average is $112.63 and its 200 day simple moving average is $108.86. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.18.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The firm had revenue of $2.28 billion for the quarter. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of WEC Energy Group in a report on Monday, October 27th. They issued an “overweight” rating and a $124.00 target price for the company. BMO Capital Markets upped their price objective on WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. UBS Group lifted their target price on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Mizuho set a $125.00 price objective on shares of WEC Energy Group in a research report on Monday, October 27th. Finally, Citigroup began coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, WEC Energy Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.

Institutional Trading of WEC Energy Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WEC. Truvestments Capital LLC purchased a new stake in shares of WEC Energy Group in the first quarter worth approximately $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group in the 1st quarter valued at $26,000. CoreFirst Bank & Trust purchased a new stake in WEC Energy Group in the second quarter worth $26,000. Bayforest Capital Ltd purchased a new stake in shares of WEC Energy Group during the second quarter valued at $26,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group in the second quarter worth about $27,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

About WEC Energy Group

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.