Sigma Planning Corp Lowers Position in WEC Energy Group, Inc. (NYSE:WEC)

Sigma Planning Corp lowered its position in WEC Energy Group, Inc. (NYSE:WEC) by 57.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,426 shares of the utilities provider’s stock after selling 3,231 shares during the period. Sigma Planning Corp’s holdings in WEC Energy Group were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEC. Tennessee Valley Asset Management Partners bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $26,000. Valued Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC bought a new stake in shares of WEC Energy Group in the 3rd quarter worth approximately $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in WEC Energy Group during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.6 %

NYSE WEC opened at $82.80 on Tuesday. The stock’s 50-day moving average price is $80.34 and its 200-day moving average price is $81.42. The company has a market capitalization of $26.12 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 2.82 and a beta of 0.40. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $97.34. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 79.15%.

Insiders Place Their Bets

In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WEC. The Goldman Sachs Group began coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Barclays decreased their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. KeyCorp boosted their price target on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada reduced their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Four 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $86.64.

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.