Legacy Capital Wealth Partners LLC Reduces Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Legacy Capital Wealth Partners LLC reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 51.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,436 shares of the utilities provider’s stock after selling 2,557 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in WEC Energy Group were worth $229,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Coastline Trust Co acquired a new stake in shares of WEC Energy Group in the third quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in WEC Energy Group in the third quarter valued at approximately $45,000. Robbins Farley purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $64,000. Concord Wealth Partners grew its stake in WEC Energy Group by 20.7% during the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after buying an additional 133 shares during the period. Finally, NBC Securities Inc. lifted its position in shares of WEC Energy Group by 22.2% during the third quarter. NBC Securities Inc. now owns 830 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 151 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEC has been the topic of a number of research reports. BMO Capital Markets increased 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 report on Wednesday, February 5th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp upped their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Scotiabank upped their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.88.

Insider Buying and Selling

In other news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Trading Down 0.7 %

NYSE WEC opened at $103.10 on Tuesday. WEC Energy Group, Inc. has a 12 month low of $76.50 and a 12 month high of $104.01. The stock has a 50-day simple moving average of $97.05 and a 200 day simple moving average of $95.93. The company has a market capitalization of $32.62 billion, a PE ratio of 21.35, a P/E/G ratio of 2.53 and a beta of 0.49. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

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 analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.24%. WEC Energy Group’s dividend payout ratio is presently 69.15%.

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.