WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 19.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,285 shares of the utilities provider’s stock after selling 790 shares during the period. JGP Wealth Management LLC’s holdings in WEC Energy Group were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Albion Financial Group UT lifted its stake in WEC Energy Group by 3.6% during the third quarter. Albion Financial Group UT now owns 56,329 shares of the utilities provider’s stock valued at $5,418,000 after purchasing an additional 1,940 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in WEC Energy Group in the 3rd quarter worth approximately $209,000. Sanibel Captiva Trust Company Inc. boosted its stake in WEC Energy Group by 40.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 4,133 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 1,182 shares during the period. Marcum Wealth LLC boosted its stake in WEC Energy Group by 9.2% in the 3rd quarter. Marcum Wealth LLC now owns 7,225 shares of the utilities provider’s stock worth $695,000 after purchasing an additional 607 shares during the period. Finally, CWM LLC boosted its stake in WEC Energy Group by 4.1% in the 3rd quarter. CWM LLC now owns 17,553 shares of the utilities provider’s stock worth $1,688,000 after purchasing an additional 693 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 1.6 %

WEC Energy Group stock opened at $95.45 on Friday. The company has a market capitalization of $30.17 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.42 and a beta of 0.44. The firm’s fifty day simple moving average is $93.20 and its 200-day simple moving average is $85.42. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $97.08.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. WEC Energy Group’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Sell-side analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.50%. WEC Energy Group’s dividend payout ratio (DPR) is presently 77.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. KeyCorp raised their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. BMO Capital Markets raised their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. Barclays raised their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Scotiabank increased their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $93.73.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now directly owns 21,876 shares in the company, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now owns 1,462 shares in the company, valued at $129,796.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock worth $1,078,058 in the last quarter. 0.34% of the stock is currently owned by company insiders.

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.