WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa Sells 40,269 Shares

WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa sold 40,269 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now owns 273,248 shares in the company, valued at $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

WEC Energy Group Price Performance

WEC stock traded down $0.30 on Friday, hitting $100.66. 1,304,310 shares of the company’s stock traded hands, compared to its average volume of 2,148,847. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.69 and a beta of 0.44. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $101.35. The stock has a fifty day moving average of $96.60 and a 200-day moving average of $88.72.

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

WEC Energy Group Dividend Announcement

The company 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. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.32%. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds have recently made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in 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 valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group during the 2nd quarter valued at $29,000. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the third quarter worth $29,000. William B. Walkup & Associates Inc. acquired a new stake in WEC Energy Group during the second quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WEC. Barclays boosted their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets lifted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank lifted their target price 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, Jefferies Financial Group began coverage on WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.45.

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.