Robert M. Garvin Sells 31,480 Shares of WEC Energy Group, Inc. (NYSE:WEC) Stock

WEC Energy Group, Inc. (NYSE:WECGet Rating) EVP Robert M. Garvin sold 31,480 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $104.21, for a total transaction of $3,280,530.80. Following the completion of the sale, the executive vice president now owns 11,062 shares in the company, valued at $1,152,771.02. The transaction was disclosed in a document filed with the SEC, which is available at this link.

WEC Energy Group stock traded up $1.29 during mid-day trading on Tuesday, hitting $105.60. 1,234,318 shares of the stock were exchanged, compared to its average volume of 1,531,240. The company has a quick ratio of 0.67, a current ratio of 0.79 and a debt-to-equity ratio of 1.18. WEC Energy Group, Inc. has a 12 month low of $86.84 and a 12 month high of $108.39. The firm’s fifty day simple moving average is $103.01 and its two-hundred day simple moving average is $97.10. The stock has a market capitalization of $33.31 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 3.92 and a beta of 0.27.

WEC Energy Group (NYSE:WECGet Rating) last released its quarterly earnings results on Monday, May 2nd. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. WEC Energy Group had a net margin of 15.90% and a return on equity of 12.17%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the business earned $1.61 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, analysts forecast that WEC Energy Group, Inc. will post 4.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were issued a dividend of $0.7275 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $2.91 annualized dividend and a yield of 2.76%. WEC Energy Group’s payout ratio is 67.83%.

WEC has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of WEC Energy Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research note on Monday, April 25th. They issued a “neutral” rating and a $108.00 price target on the stock. Finally, Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Friday, May 13th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $102.67.

A number of institutional investors have recently added to or reduced their stakes in WEC. Atria Investments LLC lifted its position in shares of WEC Energy Group by 20.1% during the 3rd quarter. Atria Investments LLC now owns 31,998 shares of the utilities provider’s stock valued at $2,822,000 after acquiring an additional 5,355 shares during the period. Comerica Bank boosted its position in shares of WEC Energy Group by 77.2% during the 3rd quarter. Comerica Bank now owns 107,958 shares of the utilities provider’s stock worth $10,219,000 after purchasing an additional 47,018 shares in the last quarter. Lewis Capital Management LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth about $331,000. UBS Group AG boosted its position in shares of WEC Energy Group by 0.9% during the 3rd quarter. UBS Group AG now owns 312,095 shares of the utilities provider’s stock worth $27,527,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of WEC Energy Group by 5.1% during the 4th quarter. Bank of America Corp DE now owns 5,507,900 shares of the utilities provider’s stock worth $534,652,000 after purchasing an additional 265,437 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

About WEC Energy Group (Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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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