Daymark Wealth Partners LLC Sells 365 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Daymark Wealth Partners LLC cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 4,057 shares of the utilities provider’s stock after selling 365 shares during the period. Daymark Wealth Partners LLC’s holdings in WEC Energy Group were worth $382,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WEC. Mizuho Securities USA LLC lifted its holdings in shares of WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after buying an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP increased its position in WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after acquiring an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. raised its stake in WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the last quarter. JPMorgan Chase & Co. grew its position in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after purchasing an additional 695,317 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 1,805 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at approximately $27,160,851.20. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the sale, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Stock Down 0.2 %

Shares of NYSE WEC opened at $97.39 on Friday. The business has a fifty day moving average of $96.71 and a two-hundred day moving average of $93.60. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79. The stock has a market cap of $30.81 billion, a PE ratio of 23.81, a PEG ratio of 2.54 and a beta of 0.48.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 4.89 earnings per share 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 dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.43%. WEC Energy Group’s dividend payout ratio is 81.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets lifted their price objective on WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a report on Monday, December 2nd. Scotiabank boosted their price objective 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. KeyCorp raised their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $98.40.

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.