WEC Energy Group, Inc. (NYSE:WEC) Holdings Decreased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,479 shares of the utilities provider’s stock after selling 285 shares during the quarter. Marks Group Wealth Management Inc’s holdings in WEC Energy Group were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new stake in shares of WEC Energy Group during the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group during the 3rd quarter valued at about $45,000. Friedenthal Financial acquired a new stake in WEC Energy Group during the third quarter worth about $50,000. Robbins Farley bought a new position in WEC Energy Group in the fourth quarter worth about $64,000. Finally, Concord Wealth Partners grew its holdings in shares of WEC Energy Group by 20.7% during the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 133 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Performance

WEC stock opened at $102.47 on Thursday. The company has a market capitalization of $32.42 billion, a P/E ratio of 21.22, a PEG ratio of 2.53 and a beta of 0.49. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a 50-day simple moving average of $96.72 and a 200 day simple moving average of $95.55. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $102.79.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the business earned $1.10 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is presently 69.15%.

Analyst Ratings Changes

Several analysts recently issued reports on WEC shares. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, BMO Capital Markets upped their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.88.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,794 shares of company stock valued at $4,866,579. Corporate insiders own 0.34% of the company’s stock.

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.