Amalgamated Bank Decreases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Amalgamated Bank reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 76,291 shares of the utilities provider’s stock after selling 4,445 shares during the quarter. Amalgamated Bank’s holdings in WEC Energy Group were worth $6,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at about $26,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 4th quarter worth approximately $28,000. Fortitude Family Office LLC bought a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC purchased a new stake in WEC Energy Group during the 3rd quarter valued at $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in WEC Energy Group in the third quarter worth $38,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale 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 company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on WEC shares. KeyCorp upped their target price on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. Royal Bank of Canada reduced their price target on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Scotiabank lowered their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $86.29.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $83.22 on Monday. The company’s fifty day moving average price is $80.69 and its 200 day moving average price is $81.41. The company has a market capitalization of $26.25 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.40. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $96.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.42 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. On average, research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.01%. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

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.