Keystone Financial Group reduced its position in WEC Energy Group Inc (NYSE:WEC) by 7.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,211 shares of the utilities provider’s stock after selling 270 shares during the period. Keystone Financial Group’s holdings in WEC Energy Group were worth $254,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Blue Sky Asset Management LLC bought a new stake in WEC Energy Group in the first quarter valued at about $25,000. Essex Investment Management Co. LLC bought a new stake in WEC Energy Group in the fourth quarter valued at about $30,000. We Are One Seven LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $30,000. ERTS Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $30,000. Finally, Arbor Wealth Management LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $32,000. 74.95% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE WEC opened at $80.25 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.67 and a quick ratio of 0.51. The company has a market cap of $25.31 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a 12-month low of $58.48 and a 12-month high of $80.44.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.41 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, analysts predict that WEC Energy Group Inc will post 3.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 2.94%. WEC Energy Group’s dividend payout ratio is presently 70.66%.
Several equities analysts have recently commented on the company. Scotiabank lowered WEC Energy Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $78.00 in a report on Wednesday, May 8th. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the company a “sell” rating in a report on Friday, April 26th. Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $71.00 to $70.00 in a report on Monday, April 8th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Argus upped their target price on WEC Energy Group to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. WEC Energy Group has an average rating of “Hold” and an average price target of $74.33.
In other news, Director Allen L. Leverett sold 5,781 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $74.79, for a total transaction of $432,360.99. Following the completion of the transaction, the director now directly owns 39,339 shares in the company, valued at $2,942,163.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles R. Matthews sold 40,295 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $74.77, for a total value of $3,012,857.15. Following the transaction, the chief executive officer now owns 26,584 shares of the company’s stock, valued at $1,987,685.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 350,899 shares of company stock valued at $26,491,087. Insiders own 0.75% of the company’s stock.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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