WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 6.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,710 shares of the utilities provider’s stock after selling 237 shares during the period. Hanson & Doremus Investment Management’s holdings in WEC Energy Group were worth $291,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Northwest Bank & Trust Co acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the first quarter worth about $25,000. Global X Japan Co. Ltd. boosted its position in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares during the last quarter. Olistico Wealth LLC purchased a new stake in WEC Energy Group during the 2nd quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. acquired a new stake in WEC Energy Group in the 1st quarter valued at about $32,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total value of $120,918.36. Following the transaction, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Stock Up 0.9 %

Shares of NYSE WEC opened at $95.85 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $88.15 and its two-hundred day moving average is $83.37. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $96.15. The firm has a market cap of $30.30 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.44 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Analyst Upgrades and Downgrades

WEC has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Barclays lifted their price target on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. KeyCorp cut their price objective on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Wells Fargo & Company upped their price objective on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.17.

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.