WEC Energy Group, Inc. $WEC Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in WEC Energy Group by 2.3%, owning approximately $213.85 million worth of shares after selling 46,202 shares.
• WEC Energy Group has announced a quarterly dividend of $0.8925 per share, which equates to an annualized payout of $3.57 and a yield of 3.3%.
• Despite a 0.7% decrease in stock price, WEC Energy Group reported earnings of $0.76 per share, exceeding analyst expectations of $0.71 per share for the last quarter.

Raymond James Financial Inc. trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,962,290 shares of the utilities provider's stock after selling 46,202 shares during the quarter. Raymond James Financial Inc. owned 0.61% of WEC Energy Group worth $213,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. United Capital Management of KS Inc. grew its stake in WEC Energy Group by 4.1% during the 1st quarter. United Capital Management of KS Inc. now owns 36,636 shares of the utilities provider's stock worth $3,993,000 after purchasing an additional 1,431 shares in the last quarter. Ethic Inc. grew its stake in WEC Energy Group by 7.3% during the 1st quarter. Ethic Inc. now owns 16,579 shares of the utilities provider's stock worth $1,805,000 after purchasing an additional 1,132 shares in the last quarter. High Falls Advisors Inc acquired a new position in WEC Energy Group during the 1st quarter worth $217,000. Element Capital Management LLC acquired a new position in WEC Energy Group during the 1st quarter worth $2,809,000. Finally, Aberdeen Group plc grew its stake in WEC Energy Group by 2.4% during the 1st quarter. Aberdeen Group plc now owns 135,939 shares of the utilities provider's stock worth $14,710,000 after purchasing an additional 3,143 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 5,960 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $110.98, for a total transaction of $661,440.80. Following the completion of the sale, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,516,059.62. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director directly owned 20,360 shares of the company's stock, valued at $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,603 shares of company stock worth $7,813,377. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Down 0.7%

Shares of NYSE WEC opened at $107.39 on Monday. The stock has a market cap of $34.57 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.95 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. WEC Energy Group, Inc. has a 52-week low of $89.18 and a 52-week high of $111.90. The business has a 50-day moving average price of $106.61 and a 200 day moving average price of $106.15.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its 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. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be given a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis 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 WEC shares. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a research note on Friday, July 11th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $106.40.

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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