Insider Selling: WEC Energy Group, Inc. (NYSE:WEC) Director Sells 5,960 Shares of Stock

Key Points

• WEC Energy Group director Gale E. Klappa sold 5,960 shares at $110.98, reducing his ownership by 2.12% and leaving him with 274,969 shares valued at approximately $30.5 million.
• The company reported $0.76 EPS for the last quarter, exceeding expectations, with a revenue of $2.01 billion—up 13.4% from the previous year.
• WEC Energy Group plans to pay a quarterly dividend of $0.8925, representing an annualized yield of 3.2%, with a current payout ratio of 68.39%.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) Director Gale E. Klappa sold 5,960 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $110.98, for a total value of $661,440.80. Following the transaction, the director owned 274,969 shares of the company's stock, valued at $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

WEC Energy Group Trading Down 1.1%

Shares of WEC stock traded down $1.27 on Tuesday, hitting $110.00. The company had a trading volume of 2,125,178 shares, compared to its average volume of 2,225,333. The firm has a market cap of $35.11 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.03 and a beta of 0.42. The stock's 50-day moving average is $106.04 and its two-hundred day moving average is $105.49. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a twelve month low of $86.76 and a twelve month high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business 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 firm's revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared 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. 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 presently 68.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WEC shares. Wells Fargo & Company raised their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. UBS Group set a $107.00 target price on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Barclays upped their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and an average target price of $106.40.

Institutional Investors Weigh In On WEC Energy Group

A number of institutional investors and hedge funds have recently bought and sold shares of WEC. Truvestments Capital LLC purchased a new stake in WEC Energy Group in the 1st quarter valued at $25,000. Nova Wealth Management Inc. purchased a new stake in WEC Energy Group in the 1st quarter valued at $26,000. Bayforest Capital Ltd bought a new stake in WEC Energy Group during the second quarter worth $26,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group during the first quarter worth $28,000. Finally, Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the first quarter worth $32,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

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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