WEC Energy Group (WEC) Shares Gap Down to $69.75

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WEC Energy Group Inc (NYSE:WEC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $71.15, but opened at $69.75. WEC Energy Group shares last traded at $68.40, with a volume of 3722989 shares changing hands.

Several research analysts recently issued reports on the company. Wolfe Research cut WEC Energy Group from a “market perform” rating to a “sell” rating in a research report on Friday, October 26th. ValuEngine raised WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Wednesday, October 17th. Citigroup set a $66.00 target price on WEC Energy Group and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Finally, Wells Fargo & Co lifted their target price on WEC Energy Group from $71.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $70.00.

The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $21.74 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 4.78 and a beta of 0.02.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was down .8% on a year-over-year basis. Analysts anticipate that WEC Energy Group Inc will post 3.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 14th will be given a $0.5525 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.21 annualized dividend and a yield of 3.23%. WEC Energy Group’s dividend payout ratio is currently 70.38%.

In other news, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $66.94, for a total value of $11,298,802.60. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. St. Johns Investment Management Company LLC lifted its position in shares of WEC Energy Group by 100.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock valued at $102,000 after buying an additional 800 shares during the last quarter. Braun Bostich & Associates Inc. lifted its position in shares of WEC Energy Group by 1,300.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after buying an additional 1,638 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of WEC Energy Group during the 2nd quarter valued at $141,000. Bridgeworth LLC purchased a new position in shares of WEC Energy Group during the 2nd quarter valued at $156,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of WEC Energy Group during the 2nd quarter valued at $164,000. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Company Profile (NYSE:WEC)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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