Resources Management Corp CT ADV Sells 113 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Resources Management Corp CT ADV cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,909 shares of the utilities provider’s stock after selling 113 shares during the period. Resources Management Corp CT ADV’s holdings in WEC Energy Group were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WEC. Global X Japan Co. Ltd. lifted its holdings in shares of WEC Energy Group by 58.1% during the 2nd 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 period. Coastline Trust Co acquired a new stake in shares of WEC Energy Group during the 3rd quarter worth about $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth about $31,000. Triad Wealth Partners LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth about $36,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth about $38,000. 77.20% of the stock is owned by institutional investors.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of WEC Energy Group stock in a transaction on Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the sale, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,794 shares of company stock valued at $4,866,579 in the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

WEC opened at $97.15 on Wednesday. The company has a fifty day simple moving average of $97.69 and a 200 day simple moving average of $90.09. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The stock has a market cap of $30.73 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.63 and a beta of 0.46. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $102.79.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the business earned $1.00 EPS. WEC Energy Group’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.8925 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.57 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Analyst Ratings Changes

WEC has been the subject of a number of recent analyst reports. KeyCorp increased their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research report on Monday, December 2nd. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, Barclays raised their price objective on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $96.18.

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.