First Heartland Consultants Inc. Sells 224 Shares of WEC Energy Group, Inc. (NYSE:WEC)

First Heartland Consultants Inc. trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,789 shares of the utilities provider’s stock after selling 224 shares during the quarter. First Heartland Consultants Inc.’s holdings in WEC Energy Group were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Confluence Investment Management LLC bought a new position in WEC Energy Group during the 1st quarter valued at approximately $127,945,000. Clearbridge Investments LLC increased its holdings in shares of WEC Energy Group by 763.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,332,587 shares of the utilities provider’s stock valued at $112,164,000 after acquiring an additional 1,178,270 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of WEC Energy Group by 93.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after purchasing an additional 803,718 shares during the last quarter. Earnest Partners LLC grew its position in WEC Energy Group by 36.0% during the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $143,557,000 after purchasing an additional 462,646 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in WEC Energy Group by 2,122.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 441,603 shares of the utilities provider’s stock valued at $37,170,000 after purchasing an additional 421,731 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

WEC opened at $92.99 on Tuesday. The company’s 50 day moving average is $83.71 and its 200 day moving average is $81.81. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The company has a market cap of $29.37 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 2.40 and a beta of 0.41. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.56.

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

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several analyst reports. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their target price on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays boosted their price target on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday. Finally, KeyCorp decreased their target price on 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. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.85.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the transaction, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the sale, the vice president now owns 2,377 shares in the company, valued at approximately $213,335.75. The disclosure for this sale can be found here. Insiders sold a total of 2,462 shares of company stock valued at $218,668 over the last three months. Corporate insiders own 0.34% of the company’s stock.

About WEC Energy Group

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.