Marks Group Wealth Management Inc Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Marks Group Wealth Management Inc decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,479 shares of the utilities provider’s stock after selling 285 shares during the quarter. Marks Group Wealth Management Inc’s holdings in WEC Energy Group were worth $1,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Coastline Trust Co purchased a new stake in WEC Energy Group in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in WEC Energy Group during the third quarter worth approximately $45,000. Friedenthal Financial acquired a new position in shares of WEC Energy Group in the 3rd quarter valued at $50,000. Robbins Farley purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at $64,000. Finally, Concord Wealth Partners increased its holdings in shares of WEC Energy Group by 20.7% during the 3rd quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.2 %

WEC opened at $102.47 on Thursday. The firm’s 50 day moving average is $96.72 and its 200-day moving average is $95.55. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $32.42 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.53 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. Analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is currently 69.15%.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,160,851.20. This represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group 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 approximately $4,611,581.01. This trade represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WEC shares. Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, KeyCorp increased their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Company 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.