WEC Energy Group Inc. (NYSE:WEC)’s share price gapped up prior to trading on Friday . The stock had previously closed at $62.37, but opened at $62.40. WEC Energy Group shares last traded at $62.49, with a volume of 722,155 shares traded.

WEC has been the topic of a number of recent research reports. Argus reiterated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Deutsche Bank AG reissued a “hold” rating and issued a $61.00 price target on shares of WEC Energy Group in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.25.

The stock has a market capitalization of $19.71 billion and a P/E ratio of 22.30. The firm has a 50-day moving average of $64.17 and a 200-day moving average of $60.02.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business earned $1.60 billion during the quarter, compared to analysts’ expectations of $2.03 billion. The firm’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. Analysts forecast that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Wednesday, August 10th.

In related news, CEO Allen L. Leverett sold 68,210 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $60.35, for a total transaction of $4,116,473.50. Following the completion of the transaction, the chief executive officer now directly owns 100,456 shares of the company’s stock, valued at $6,062,519.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Susan H. Martin sold 40,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.05, for a total value of $2,602,000.00. The disclosure for this sale can be found here.

Several large investors recently bought and sold shares of the stock. I.G. Investment Management LTD. raised its stake in WEC Energy Group by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 624,700 shares of the company’s stock valued at $32,053,000 after buying an additional 33,600 shares during the last quarter. Victory Capital Management Inc. increased its position in WEC Energy Group by 31.2% in the fourth quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock valued at $2,548,000 after buying an additional 11,811 shares during the last quarter. Investment Management of Virginia LLC increased its position in WEC Energy Group by 0.5% in the fourth quarter. Investment Management of Virginia LLC now owns 25,185 shares of the company’s stock valued at $1,292,000 after buying an additional 125 shares during the last quarter. Principal Financial Group Inc. increased its position in WEC Energy Group by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 447,288 shares of the company’s stock valued at $22,951,000 after buying an additional 8,644 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in WEC Energy Group by 15.0% in the fourth quarter. Advisors Asset Management Inc. now owns 99,606 shares of the company’s stock valued at $5,111,000 after buying an additional 12,976 shares during the last quarter.

WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.

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