Motley Fool Wealth Management LLC Sells 2,681 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Motley Fool Wealth Management LLC has reduced its stake in WEC Energy Group by 9.9%, selling 2,681 shares and leaving them with 24,536 shares valued at approximately $2.67 million.
• WEC Energy Group's recent earnings report showed a net margin of 17.87%, with a revenue of $2.01 billion for the quarter, exceeding analysts' expectations of $1.87 billion.
• The company announced a quarterly dividend of $0.8925 per share, representing an annual yield of 3.2%, with a payout ratio currently at 68.39%.

Motley Fool Wealth Management LLC lowered its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,536 shares of the utilities provider's stock after selling 2,681 shares during the period. Motley Fool Wealth Management LLC's holdings in WEC Energy Group were worth $2,674,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WEC. Hughes Financial Services LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $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 buying 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 buying 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 buying an additional 316 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Down 0.3%

Shares of WEC Energy Group stock opened at $110.38 on Monday. WEC Energy Group, Inc. has a twelve month low of $86.76 and a twelve month high of $111.90. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 3.03 and a beta of 0.42. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The company's 50 day moving average is $106.33 and its 200 day moving average is $105.81.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The firm's revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's dividend payout ratio is currently 68.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WEC shares. Barclays upped their target price on shares of 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. The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of "Hold" and an average price target of $106.40.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP Anthony Reese sold 4,177 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the sale, the vice president directly owned 1,757 shares of the company's stock, valued at approximately $193,797.10. This represents a 70.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president directly owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,752 shares of company stock valued at $6,610,023 in the last quarter. Insiders own 0.50% of the company's stock.

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.

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