WEC Energy Group Inc. (WEC) Shares Down 2.3%
Shares of WEC Energy Group Inc. (NYSE:WEC) fell 2.3% during mid-day trading on Friday . The stock traded as low as $59.80 and last traded at $59.82, with a volume of 1,199,191 shares changing hands. The stock had previously closed at $61.25.
Separately, Argus restated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $58.25.
The stock has a market capitalization of $18.84 billion and a P/E ratio of 21.31. The company has a 50 day moving average of $63.15 and a 200 day moving average of $60.40.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates 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 last year, the business posted $0.58 earnings per share. Equities research analysts anticipate that WEC Energy Group Inc. will post $2.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other news, CEO Allen L. Leverett sold 68,210 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 100,456 shares of the company’s stock, valued at approximately $6,062,519.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $60.19, for a total value of $1,504,750.00. Following the sale, the director now directly owns 173,804 shares of the company’s stock, valued at $10,461,262.76. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in WEC Energy Group stock. RS Investment Management Co. LLC acquired a new stake in WEC Energy Group Inc. (NYSE:WEC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 116,610 shares of the company’s stock, valued at approximately $5,983,000.
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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