Nations Financial Group Inc. IA ADV Sells 3,052 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Nations Financial Group Inc. IA ADV reduced its stake in WEC Energy Group, Inc. by 17.6%, selling 3,052 shares, and now holds 14,244 shares valued at approximately $1.55 million.
• WEC Energy Group reported earnings per share (EPS) of $0.76, surpassing analysts' expectations, with a revenue increase of 13.4% year-over-year, totaling $2.01 billion.
• The company declared a quarterly dividend of $0.8925, representing a yield of 3.3%, with a dividend payout ratio of 68.39%.

Nations Financial Group Inc. IA ADV lowered its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,244 shares of the utilities provider's stock after selling 3,052 shares during the period. Nations Financial Group Inc. IA ADV's holdings in WEC Energy Group were worth $1,552,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the first quarter valued at approximately $32,000. Golden State Wealth Management LLC increased its holdings in WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after buying an additional 245 shares during the last quarter. Creekmur Asset Management LLC increased its holdings in WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after buying an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC increased its holdings in WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock valued at $59,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Down 0.7%

Shares of WEC opened at $107.39 on Friday. WEC Energy Group, Inc. has a 1 year low of $89.18 and a 1 year high of $111.90. The company has a 50 day simple moving average of $106.61 and a two-hundred day simple moving average of $106.05. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The firm has a market cap of $34.57 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (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 company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $0.67 EPS. WEC Energy Group's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently declared 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 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is currently 68.39%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 35,000 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the completion of the transaction, the director owned 274,969 shares in the company, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 9,231 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were 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 directly owned 56,443 shares of the company's stock, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,603 shares of company stock valued at $7,813,377 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

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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