Gries Financial LLC Sells 103 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Gries Financial LLC trimmed its stake in WEC Energy Group, Inc. (NYSE:WECFree Report) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,591 shares of the utilities provider’s stock after selling 103 shares during the period. Gries Financial LLC’s holdings in WEC Energy Group were worth $1,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of WEC Energy Group by 9.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 27,425 shares of the utilities provider’s stock worth $2,152,000 after acquiring an additional 2,333 shares during the last quarter. Quarry LP increased its stake in WEC Energy Group by 158.3% in the 2nd quarter. Quarry LP now owns 1,361 shares of the utilities provider’s stock worth $107,000 after buying an additional 834 shares during the period. EP Wealth Advisors LLC lifted its holdings in WEC Energy Group by 35.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,717 shares of the utilities provider’s stock valued at $449,000 after buying an additional 1,485 shares in the last quarter. Truist Financial Corp boosted its position in WEC Energy Group by 10.4% in the 2nd quarter. Truist Financial Corp now owns 100,240 shares of the utilities provider’s stock valued at $7,865,000 after buying an additional 9,480 shares during the period. Finally, Cetera Investment Advisers grew its stake in WEC Energy Group by 4.2% in the 2nd quarter. Cetera Investment Advisers now owns 119,951 shares of the utilities provider’s stock worth $9,411,000 after acquiring an additional 4,835 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

WEC has been the topic of several research analyst reports. KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their target price on WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research note on Monday, December 2nd. Finally, Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.40.

View Our Latest Analysis on WEC Energy Group

Insider Activity

In other news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gale E. Klappa sold 40,269 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

NYSE:WEC opened at $98.15 on Thursday. The stock has a 50 day moving average of $96.76 and a two-hundred day moving average of $94.26. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $102.79. The firm has a market cap of $31.05 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WECGet Free Report) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.40%. WEC Energy Group’s dividend payout ratio (DPR) is currently 87.29%.

WEC Energy Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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