WEC Energy Group Inc (NYSE:WEC) Short Interest Update

WEC Energy Group Inc (NYSE:WEC) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 11,651,000 shares, an increase of 9.9% from the June 30th total of 10,599,200 shares. Based on an average daily trading volume, of 1,640,000 shares, the short-interest ratio is currently 7.1 days. Approximately 3.7% of the company’s shares are short sold.

In other news, VP William J. Guc sold 7,005 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.09, for a total transaction of $617,070.45. Following the completion of the sale, the vice president now directly owns 13,366 shares in the company, valued at $1,177,410.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gale E. Klappa sold 61,350 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $81.30, for a total transaction of $4,987,755.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 545,166 shares of company stock valued at $45,236,812. Company insiders own 0.75% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Allied Advisory Services Inc. increased its stake in shares of WEC Energy Group by 2.4% during the second quarter. First Allied Advisory Services Inc. now owns 4,734 shares of the utilities provider’s stock valued at $395,000 after purchasing an additional 112 shares in the last quarter. 6 Meridian increased its position in shares of WEC Energy Group by 1.8% during the second quarter. 6 Meridian now owns 6,829 shares of the utilities provider’s stock valued at $569,000 after acquiring an additional 123 shares in the last quarter. Carroll Financial Associates Inc. increased its position in shares of WEC Energy Group by 5.6% during the second quarter. Carroll Financial Associates Inc. now owns 2,345 shares of the utilities provider’s stock valued at $195,000 after acquiring an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of WEC Energy Group by 1.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,026 shares of the utilities provider’s stock valued at $714,000 after acquiring an additional 130 shares in the last quarter. Finally, Almanack Investment Partners LLC. increased its position in shares of WEC Energy Group by 3.0% during the second quarter. Almanack Investment Partners LLC. now owns 4,528 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 130 shares in the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

Shares of WEC opened at $90.69 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.55 and a quick ratio of 0.41. WEC Energy Group has a one year low of $64.96 and a one year high of $90.93. The company has a 50-day simple moving average of $86.41 and a two-hundred day simple moving average of $80.58. The firm has a market capitalization of $28.39 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 4.33 and a beta of 0.11.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $0.73 earnings per share. WEC Energy Group’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts expect that WEC Energy Group will post 3.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $2.36 annualized dividend and a yield of 2.60%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.

A number of analysts have recently weighed in on WEC shares. KeyCorp started coverage on shares of WEC Energy Group in a report on Tuesday, June 4th. They set a “sector weight” rating for the company. Credit Suisse Group lowered shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $84.00 to $85.00 in a report on Tuesday, August 6th. They noted that the move was a valuation call. Scotiabank lowered shares of WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $78.00 in a report on Wednesday, May 8th. Bank of America lowered shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $82.00 to $85.00 in a report on Monday, June 24th. Finally, Wolfe Research set a $77.00 target price on shares of WEC Energy Group and gave the stock a “sell” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.75.

About WEC Energy Group

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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