Molly A. Mulroy Sells 4,030 Shares of WEC Energy Group, Inc. (NYSE:WEC) Stock

Key Points

• WEC Energy Group's EVP, Molly A. Mulroy, sold 4,030 shares for a total of $444,629.90, reducing her stake in the company by 40.88%.
• The company's stock is currently trading at $110.00, reflecting a 1.1% decrease, with a twelve-month low of $86.76 and a high of $111.90.
• WEC Energy Group recently announced a quarterly dividend of $0.8925 per share, representing an annual yield of 3.2%.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the transaction, the executive vice president directly owned 5,829 shares of the company's stock, valued at approximately $643,113.57. This trade represents a 40.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

WEC Energy Group Price Performance

NYSE:WEC traded down $0.53 during trading hours on Friday, hitting $110.17. 799,149 shares of the stock were exchanged, compared to its average volume of 2,218,041. WEC Energy Group, Inc. has a 52-week low of $86.76 and a 52-week high of $111.90. The firm's fifty day moving average price is $106.27 and its 200 day moving average price is $105.63. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a market cap of $35.46 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.01 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly 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 business had revenue of $2.01 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS 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. Stockholders of record on Thursday, August 14th will be given a $0.8925 dividend. The ex-dividend date is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group's dividend payout ratio is 68.39%.

Analyst Ratings Changes

WEC has been the subject of several recent analyst reports. Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, Barclays lifted their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group currently has an average rating of "Hold" and a consensus price target of $106.40.

Institutional Investors Weigh In On WEC Energy Group

A number of large investors have recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new position in WEC Energy Group in the first quarter valued at approximately $25,000. Nova Wealth Management Inc. purchased a new position in WEC Energy Group in the first quarter valued at $26,000. Bayforest Capital Ltd purchased a new position in WEC Energy Group in the second quarter valued at $26,000. Hughes Financial Services LLC purchased a new position in WEC Energy Group in the first quarter valued at $28,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the first quarter worth about $32,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

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.