WEC Energy Group, Inc. (NYSE:WEC) EVP Sells $659,060.20 in Stock

Key Points

• WEC Energy Group's EVP Daniel Krueger sold 5,930 shares of stock for $659,060.20, reducing his ownership by 47.30%.
• The company reported a Q2 earnings per share of $0.76, exceeding estimates, and its revenue increased by 13.4% year-over-year to $2.01 billion.
• WEC Energy Group announced a quarterly dividend of $0.8925 per share, representing a 3.2% dividend yield, with a payout ratio of 68.39%.

WEC Energy Group, Inc. (NYSE:WEC - Get Free Report) EVP Daniel Krueger sold 5,930 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president owned 6,606 shares of the company's stock, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded down $1.27 during trading on Tuesday, hitting $110.00. 2,125,178 shares of the company's stock traded hands, compared to its average volume of 2,225,333. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The firm's fifty day moving average price is $106.04 and its 200 day moving average price is $105.49. WEC Energy Group, Inc. has a twelve month low of $86.76 and a twelve month high of $111.90. The company has a market cap of $35.11 billion, a PE ratio of 21.07, a PEG ratio of 3.03 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $0.67 EPS. The firm's revenue was up 13.4% on a year-over-year basis. Analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, August 14th. WEC Energy Group's payout ratio is 68.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WEC. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group downgraded shares of 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 report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, WEC Energy Group has a consensus rating of "Hold" and an average target price of $106.40.

Hedge Funds Weigh In On WEC Energy Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC boosted its position in WEC Energy Group by 16.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,538 shares of the utilities provider's stock valued at $160,000 after buying an additional 213 shares in the last quarter. Blue Barn Wealth LLC boosted its position in WEC Energy Group by 3.2% in the second quarter. Blue Barn Wealth LLC now owns 4,330 shares of the utilities provider's stock valued at $451,000 after buying an additional 135 shares in the last quarter. NewSquare Capital LLC boosted its position in WEC Energy Group by 60.5% in the second quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider's stock valued at $32,000 after buying an additional 115 shares in the last quarter. Code Waechter LLC acquired a new position in WEC Energy Group in the second quarter valued at about $255,000. Finally, Huntington National Bank lifted its position in WEC Energy Group by 6.1% during the 2nd quarter. Huntington National Bank now owns 276,670 shares of the utilities provider's stock worth $28,829,000 after buying an additional 15,950 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

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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