WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,657 shares of the utilities provider’s stock after selling 115 shares during the quarter. Providence Wealth Advisors LLC’s holdings in WEC Energy Group were worth $263,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $29,000. Coastline Trust Co acquired a new position in shares of WEC Energy Group during the 3rd quarter worth approximately $29,000. William B. Walkup & Associates Inc. acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $36,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. KeyCorp increased their price objective on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Scotiabank increased their price objective on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group Stock Up 0.3 %

Shares of NYSE:WEC opened at $101.82 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average of $97.21 and a two-hundred day moving average of $89.31. The stock has a market cap of $32.21 billion, a P/E ratio of 24.89, a PEG ratio of 2.77 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. On average, research analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is presently 81.66%.

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.