WEC Energy Group, Inc. (NYSE:WEC) Announces Quarterly Dividend of $0.89

Key Points

• WEC Energy Group has announced a quarterly dividend of $0.89 per share, with a record date of November 14th, and payment scheduled for December 1st, reflecting a yield of 3.1%.
• The company has a dividend payout ratio of 63.8%, indicating it is well-positioned to sustain its dividend, with expected earnings of $5.58 per share for the next fiscal year.
• WEC Energy Group's shares currently open at $116.22, with a market capitalization of $37.41 billion and a P/E ratio of 22.26.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) announced a quarterly dividend on Thursday, October 16th. Shareholders of record on Friday, November 14th will be paid a dividend of 0.8925 per share by the utilities provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th.

WEC Energy Group has a dividend payout ratio of 63.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WEC Energy Group to earn $5.58 per share next year, which means the company should continue to be able to cover its $3.57 annual dividend with an expected future payout ratio of 64.0%.

WEC Energy Group Stock Performance

Shares of WEC opened at $116.22 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The stock has a 50 day moving average price of $110.41 and a two-hundred day moving average price of $107.91. The firm has a market capitalization of $37.41 billion, a P/E ratio of 22.26, a P/E/G ratio of 3.31 and a beta of 0.47. WEC Energy Group has a 52 week low of $91.94 and a 52 week high of $118.10.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The firm had revenue of $2.28 billion during the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. Equities analysts forecast that WEC Energy Group will post 5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEC Energy Group news, VP Anthony Reese sold 4,177 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the sale, the vice president owned 1,757 shares in the company, valued at $193,797.10. This represents a 70.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction on 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 sale, the director owned 274,969 shares in the company, valued at approximately $30,447,317.37. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock valued at $7,581,132 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WEC Energy Group

Several institutional investors have recently made changes to their positions in WEC. GAMMA Investing LLC lifted its position in shares of WEC Energy Group by 18.2% during the first quarter. GAMMA Investing LLC now owns 16,829 shares of the utilities provider's stock worth $1,834,000 after acquiring an additional 2,587 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of WEC Energy Group by 16.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider's stock worth $26,702,000 after purchasing an additional 34,986 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of WEC Energy Group in the first quarter worth $522,000. Brighton Jones LLC bought a new position in shares of WEC Energy Group in the first quarter worth $239,000. Finally, Trust Point Inc. bought a new position in shares of WEC Energy Group in the first quarter worth $213,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

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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