Nations Financial Group Inc. IA ADV Reduces Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Nations Financial Group Inc. IA ADV cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,853 shares of the utilities provider’s stock after selling 1,946 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in WEC Energy Group were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $26,000. Valued Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $28,000. First United Bank & Trust purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $33,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in WEC Energy Group in the third quarter worth approximately $38,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction that occurred 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 directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following 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 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WEC. BMO Capital Markets increased their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Barclays lowered their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. The Goldman Sachs Group began coverage on WEC Energy Group in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective for the company. Wells Fargo & Company lowered their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Finally, Scotiabank decreased their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and an average price target of $86.29.

WEC Energy Group Stock Up 0.0 %

WEC Energy Group stock traded up $0.03 during midday trading on Friday, reaching $80.70. The company’s stock had a trading volume of 2,252,427 shares, compared to its average volume of 2,162,475. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $93.37. The business has a 50-day simple moving average of $81.96 and a 200-day simple moving average of $81.61. The company has a market cap of $25.49 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.09 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.61 earnings per share. On average, research analysts expect that WEC Energy Group, Inc. will post 4.86 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.14%. WEC Energy Group’s payout ratio is 72.93%.

WEC Energy Group 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.