WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Main Street Financial Solutions LLC

by · The Markets Daily

Main Street Financial Solutions LLC lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,259 shares of the utilities provider’s stock after selling 526 shares during the period. Main Street Financial Solutions LLC’s holdings in WEC Energy Group were worth $217,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WEC. Czech National Bank increased its holdings in shares of WEC Energy Group by 7.0% in the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after purchasing an additional 4,205 shares in the last quarter. Intech Investment Management LLC increased its holdings in WEC Energy Group by 335.4% in the first quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock valued at $4,442,000 after buying an additional 41,668 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of WEC Energy Group by 19.4% in the 1st quarter. Russell Investments Group Ltd. now owns 109,421 shares of the utilities provider’s stock worth $8,985,000 after acquiring an additional 17,807 shares during the period. Assenagon Asset Management S.A. raised its holdings in WEC Energy Group by 2,949.7% during the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock worth $18,204,000 after purchasing an additional 224,410 shares during the last quarter. Finally, RFG Advisory LLC raised its stake in shares of WEC Energy Group by 35.0% during the 2nd quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock worth $2,310,000 after buying an additional 7,640 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In other news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This trade represents a 43.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. The trade was a 46.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Up 1.9 %

Shares of WEC opened at $97.98 on Friday. The stock’s fifty day simple moving average is $96.15 and its 200 day simple moving average is $88.15. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $100.31. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $31.00 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.44.

WEC Energy Group (NYSE:WEC – Get Free Report) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Analyst Ratings Changes

A number of equities analysts have issued reports on WEC shares. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. KeyCorp lifted their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Barclays raised their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $94.45.

Get Our Latest Analysis on WEC

WEC Energy Group Company Profile

(Free Report)

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.

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