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

WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa sold 40,269 shares of the stock in a transaction dated 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 sale, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

WEC Energy Group Stock Down 0.3 %

WEC stock opened at $100.66 on Friday. The stock has a market cap of $31.84 billion, a P/E ratio of 24.61, a PEG ratio of 2.74 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $101.43. The company’s 50 day moving average is $96.69 and its two-hundred day moving average is $88.88.

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

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a $0.835 dividend. 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 (DPR) is presently 81.66%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WEC. Mizuho Securities USA LLC boosted its holdings in shares of WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after acquiring an additional 25,975,652 shares during the period. Geode Capital Management LLC boosted its stake in WEC Energy Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after purchasing an additional 105,580 shares during the period. Wellington Management Group LLP grew its position in WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after buying an additional 688,812 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WEC. KeyCorp upped their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays upped their price objective on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group initiated coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target on the stock. Finally, Bank of America increased their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.