WEC Energy Group, Inc. $WEC Shares Sold by Parr Mcknight Wealth Management Group LLC

Key Points

• Parr Mcknight Wealth Management cut its WEC Energy Group stake by 56.6% in the third quarter, selling 26,689 shares and retaining 20,425 shares worth about $2.06 million.
• WEC reported quarterly EPS of $1.18, beating the $0.97 consensus; revenue rose 8.9% year over year to $2.29 billion.
• Analysts’ consensus rating is Hold, with an average price target of $118. The company declared a quarterly dividend of $0.9525 per share, equivalent to a 3.3% yield at the article’s cited share price.

Parr Mcknight Wealth Management Group LLC lowered its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 56.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,425 shares of the utilities provider's stock after selling 26,689 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in WEC Energy Group were worth $2,058,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Diversify Advisory Services LLC lifted its holdings in WEC Energy Group by 2.0% during the third quarter. Diversify Advisory Services LLC now owns 5,076 shares of the utilities provider's stock worth $538,000 after acquiring an additional 98 shares in the last quarter. WPG Advisers LLC grew its stake in WEC Energy Group by 37.2% in the third quarter. WPG Advisers LLC now owns 365 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 99 shares during the period. Integrity Alliance LLC. increased its holdings in shares of WEC Energy Group by 2.2% in the third quarter. Integrity Alliance LLC. now owns 4,818 shares of the utilities provider's stock worth $486,000 after acquiring an additional 103 shares in the last quarter. Hibernia Wealth Partners LLC increased its holdings in shares of WEC Energy Group by 3.3% in the first quarter. Hibernia Wealth Partners LLC now owns 3,367 shares of the utilities provider's stock worth $390,000 after acquiring an additional 106 shares in the last quarter. Finally, Gryphon Financial Partners LLC raised its position in shares of WEC Energy Group by 4.0% during the first quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the utilities provider's stock worth $354,000 after purchasing an additional 118 shares during the period. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 980 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the completion of the transaction, the director directly owned 19,588 shares of the company's stock, valued at $2,068,101.04. This trade represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WEC shares. Scotiabank increased their target price on WEC Energy Group from $117.00 to $128.00 and gave the stock a "sector outperform" rating in a research note on Friday, October 30th. Barclays cut their price target on shares of WEC Energy Group from $117.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Monday, October 19th. LADENBURG THALM/SH SH reduced their price target on shares of WEC Energy Group from $110.50 to $108.50 and set a "neutral" rating for the company in a report on Wednesday, August 19th. Jefferies Financial Group lowered their price objective on shares of WEC Energy Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Wednesday, October 21st. Finally, Stephens set a $109.00 price objective on shares of WEC Energy Group in a research report on Friday, October 16th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $118.00.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $115.50 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.36. The firm has a market cap of $38.00 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.41 and a beta of 0.43. The stock's 50-day moving average is $106.22 and its 200-day moving average is $111.53. WEC Energy Group, Inc. has a one year low of $99.80 and a one year high of $119.91.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the company earned $0.83 earnings per share. WEC Energy Group's quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts predict that WEC Energy Group, Inc. will post 5.61 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.81 dividend on an annualized basis and a yield of 3.3%. WEC Energy Group's dividend payout ratio is 69.15%.

WEC Energy Group Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy's principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.

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