WEC Energy Group, Inc. $WEC Shares Sold by Franklin Parlapiano Turner & Welch LLC

Key Points

• Franklin Parlapiano Turner & Welch LLC reduced its stake in WEC Energy Group by 5.6%, now holding 85,582 shares valued at $8.9 million, making it the 12th largest position in their portfolio.
• WEC Energy Group declared a quarterly dividend of $0.8925 per share, resulting in a yield of 3.1%, and has a dividend payout ratio of 68.39%.
• Insider activity includes significant sales, with EVP Molly A. Mulroy and Director Gale E. Klappa selling 4,030 and 35,000 shares, respectively, representing notable decreases in their stock ownership.

Franklin Parlapiano Turner & Welch LLC lessened its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,582 shares of the utilities provider's stock after selling 5,042 shares during the period. WEC Energy Group accounts for approximately 2.3% of Franklin Parlapiano Turner & Welch LLC's portfolio, making the stock its 12th largest position. Franklin Parlapiano Turner & Welch LLC's holdings in WEC Energy Group were worth $8,918,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in WEC Energy Group in the first quarter valued at $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group during the first quarter worth about $26,000. Hughes Financial Services LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth about $32,000. Finally, ORG Partners LLC boosted its stake in shares of WEC Energy Group by 65.7% during the second quarter. ORG Partners LLC now owns 328 shares of the utilities provider's stock worth $34,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Activity

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the transaction, the executive vice president directly owned 5,829 shares of the company's stock, valued at approximately $643,113.57. This trade represents a 40.88% 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, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock valued at $7,581,132 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Trading Up 1.0%

NYSE WEC opened at $115.07 on Friday. The stock has a market capitalization of $37.04 billion, a P/E ratio of 22.04, a P/E/G ratio of 3.16 and a beta of 0.47. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $115.90. The firm has a 50-day moving average price of $109.95 and a 200 day moving average price of $107.67. 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 quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The firm had revenue of $2.28 billion during the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group's dividend payout ratio is currently 68.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WEC. Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Saturday, October 4th. UBS Group increased their target price on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday. Citigroup began coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They set a "buy" rating and a $131.00 target price for the company. The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, Scotiabank increased their target price on shares of WEC Energy Group from $115.00 to $129.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $112.20.

WEC Energy Group Company 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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