WEC Energy Group, Inc. (NYSE:WEC) CEO Sells $1,023,533.28 in Stock

Key Points

• WEC Energy Group CEO Scott J. Lauber sold 9,231 shares of the company's stock for approximately $1,023,533.28, reducing his ownership by 14.06% to 56,443 shares.
• The company recently announced a quarterly dividend of $0.8925 per share with a dividend yield of 3.3%, while the dividend payout ratio stands at 68.39%.
• Brokerage firms have mixed ratings on WEC Energy Group, with a consensus rating of "Hold" and an average price target of $106.40.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) CEO Scott J. Lauber sold 9,231 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

WEC Energy Group Trading Down 0.3%

Shares of WEC traded down $0.28 on Tuesday, hitting $109.39. 857,440 shares of the stock traded hands, compared to its average volume of 2,212,322. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $35.21 billion, a P/E ratio of 20.96, a P/E/G ratio of 3.03 and a beta of 0.42. The stock's 50 day moving average is $106.38 and its two-hundred day moving average is $105.89. WEC Energy Group, Inc. has a 1 year low of $88.14 and a 1 year high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.3%. WEC Energy Group's dividend payout ratio is presently 68.39%.

Hedge Funds Weigh In On WEC Energy Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Horizon Investment Services LLC acquired a new position in WEC Energy Group during the first quarter worth approximately $379,000. Los Angeles Capital Management LLC increased its position in WEC Energy Group by 2,964.9% during the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after purchasing an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of WEC Energy Group in the 1st quarter valued at $10,333,000. Sowell Financial Services LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at $325,000. Finally, CWA Asset Management Group LLC raised its stake in shares of WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock valued at $321,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on WEC. Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Barclays upped their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company upped their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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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