WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Trimmed by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its stake in WEC Energy Group by 15.2%, now holding 25,437 shares valued at approximately $2.77 million.
• Insider transactions showed VP Mary Beth Straka and Director Gale E. Klappa selling shares, with insiders collectively selling over 59,752 shares worth about $6.6 million in the last quarter.
• WEC Energy Group recently reported $0.76 EPS, surpassing estimates, and announced a quarterly dividend of $0.8925, reflecting a 3.2% yield.

Mizuho Securities USA LLC decreased its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,437 shares of the utilities provider's stock after selling 4,546 shares during the period. Mizuho Securities USA LLC's holdings in WEC Energy Group were worth $2,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group in the first quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the first quarter worth about $32,000. Golden State Wealth Management LLC lifted its stake in shares of WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after acquiring an additional 245 shares in the last quarter. Creekmur Asset Management LLC lifted its stake in shares of WEC Energy Group by 2,420.0% in the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after acquiring an additional 363 shares in the last quarter. Finally, Stephens Consulting LLC lifted its stake in shares of WEC Energy Group by 138.6% in the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after acquiring an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $0.21 during trading on Tuesday, hitting $109.46. 1,824,003 shares of the company traded hands, compared to its average volume of 2,081,077. The stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 3.01 and a beta of 0.42. The business's fifty day moving average is $106.42 and its 200-day moving average is $105.92. WEC Energy Group, Inc. has a one year low of $88.14 and a one year high of $111.90. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS 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 analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. The business's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. As a group, equities 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.3%. WEC Energy Group's dividend payout ratio is 68.39%.

Analyst Upgrades and Downgrades

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

Insider Activity at WEC Energy Group

In other news, EVP Daniel Krueger sold 5,930 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares in the company, valued at approximately $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.30, for a total value of $460,723.10. Following the sale, the vice president directly owned 1,757 shares in the company, valued at $193,797.10. The trade was a 70.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,603 shares of company stock valued at $7,813,377. 0.50% of the stock is owned by insiders.

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.