Connecticut Wealth Management LLC Sells 200 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Connecticut Wealth Management LLC cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,528 shares of the utilities provider’s stock after selling 200 shares during the period. Connecticut Wealth Management LLC’s holdings in WEC Energy Group were worth $297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dearborn Partners LLC boosted its stake in WEC Energy Group by 29.2% in the 4th quarter. Dearborn Partners LLC now owns 582,421 shares of the utilities provider’s stock valued at $49,022,000 after buying an additional 131,797 shares in the last quarter. Vaughan David Investments LLC IL boosted its stake in WEC Energy Group by 3.4% in the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider’s stock valued at $36,059,000 after buying an additional 14,084 shares in the last quarter. abrdn plc boosted its stake in WEC Energy Group by 72.6% in the 4th quarter. abrdn plc now owns 129,890 shares of the utilities provider’s stock valued at $10,933,000 after buying an additional 54,623 shares in the last quarter. Annex Advisory Services LLC boosted its stake in WEC Energy Group by 13.8% in the 3rd quarter. Annex Advisory Services LLC now owns 205,489 shares of the utilities provider’s stock valued at $16,552,000 after buying an additional 24,892 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in WEC Energy Group by 2.3% in the 3rd quarter. Great Lakes Advisors LLC now owns 44,471 shares of the utilities provider’s stock valued at $3,582,000 after buying an additional 1,010 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Down 0.7 %

Shares of WEC Energy Group stock traded down $0.62 during trading hours on Monday, hitting $82.60. The company’s stock had a trading volume of 633,695 shares, compared to its average volume of 2,121,288. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $95.95. The stock has a 50 day moving average of $80.69 and a 200 day moving average of $81.41. The company has a market capitalization of $26.05 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.04%. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Insider Buying and Selling at WEC Energy Group

In other news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on WEC shares. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. KeyCorp boosted their price target on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company reduced their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. BMO Capital Markets boosted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.29.

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.