Reaves W H & Co. Inc. Sells 506 Shares of WEC Energy Group Inc (WEC)

Reaves W H & Co. Inc. cut its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 0.1% in the first quarter, HoldingsChannel.com reports. The fund owned 980,534 shares of the utilities provider’s stock after selling 506 shares during the period. WEC Energy Group makes up approximately 2.6% of Reaves W H & Co. Inc.’s holdings, making the stock its 13th largest holding. Reaves W H & Co. Inc.’s holdings in WEC Energy Group were worth $77,541,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Blue Sky Asset Management LLC bought a new position in shares of WEC Energy Group during the 1st quarter valued at approximately $25,000. Essex Investment Management Co. LLC bought a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $30,000. We Are One Seven LLC bought a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $30,000. ERTS Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $30,000. Finally, Arbor Wealth Management LLC bought a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $32,000. Institutional investors own 74.95% of the company’s stock.

Several research analysts have weighed in on the company. Wolfe Research set a $77.00 price target on WEC Energy Group and gave the stock a “sell” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Goldman Sachs Group downgraded WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $71.00 to $70.00 in a research note on Monday, April 8th. Argus upped their price target on WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, Credit Suisse Group upped their price target on WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. WEC Energy Group currently has an average rating of “Hold” and an average target price of $74.33.

In other news, Director Barbara L. Bowles sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $78.35, for a total transaction of $156,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Allen L. Leverett sold 5,781 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $74.79, for a total value of $432,360.99. Following the sale, the director now directly owns 39,339 shares in the company, valued at $2,942,163.81. The disclosure for this sale can be found here. Insiders have sold a total of 350,899 shares of company stock worth $26,491,087 over the last ninety days. Insiders own 0.75% of the company’s stock.

WEC stock opened at $80.90 on Monday. WEC Energy Group Inc has a 1-year low of $58.48 and a 1-year high of $81.36. The company has a quick ratio of 0.51, a current ratio of 0.67 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 5.04 and a beta of 0.16.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $1.23 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.36 annualized dividend and a yield of 2.92%. WEC Energy Group’s payout ratio is 70.66%.

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WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading: Why is the price-sales ratio important?

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

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