Entropy Technologies LP Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Entropy Technologies LP has made a new investment in WEC Energy Group, acquiring 5,300 shares valued at approximately $578,000 during the first quarter.
• Insider selling activity includes CEO Scott J. Lauber selling 9,231 shares for over $1 million, reducing his position by 14.06%.
• WEC Energy Group reported earnings of $0.76 per share, surpassing estimates, with a net revenue of $2.01 billion for the last quarter, marking a 13.4% year-over-year increase.

Entropy Technologies LP bought a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,300 shares of the utilities provider's stock, valued at approximately $578,000.

Other institutional investors have also added to or reduced their stakes in the company. Horizon Investment Services LLC bought a new position in WEC Energy Group in the 1st quarter worth about $379,000. Los Angeles Capital Management LLC increased its stake in WEC Energy Group by 2,964.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after acquiring an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in WEC Energy Group in the 1st quarter worth about $10,333,000. Sowell Financial Services LLC bought a new position in WEC Energy Group in the 1st quarter worth about $325,000. Finally, CWA Asset Management Group LLC increased its stake in WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after acquiring an additional 157 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the completion of the sale, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,603 shares of company stock worth $7,813,377. Insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 0.2%

Shares of WEC stock opened at $109.46 on Wednesday. The stock has a market capitalization of $35.23 billion, a PE ratio of 20.97, a P/E/G ratio of 3.01 and a beta of 0.42. WEC Energy Group, Inc. has a 1-year low of $88.14 and a 1-year high of $111.90. The business has a 50-day moving average of $106.42 and a 200 day moving average of $105.92. 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 - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. WEC Energy Group's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be issued a $0.8925 dividend. The ex-dividend date is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WEC. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Wells Fargo & Company upped their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Finally, UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, WEC Energy Group has an average rating of "Hold" and an average target price of $106.40.

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.

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