WEC Energy Group, Inc. (NYSE:WEC) Stock Position Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,569 shares of the utilities provider’s stock after selling 485 shares during the period. Oppenheimer Asset Management Inc.’s holdings in WEC Energy Group were worth $1,535,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WEC. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $25,000. Northwest Bank & Trust Co acquired a new position in shares of WEC Energy Group in the fourth quarter worth about $25,000. Global X Japan Co. Ltd. increased its position in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group during the second quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $32,000. Institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

WEC opened at $95.25 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average price is $89.21 and its two-hundred day moving average price is $83.75. The firm has a market capitalization of $30.08 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.65.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business earned $0.92 earnings per share. WEC Energy Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WEC shares. BMO Capital Markets lifted their price target on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. KeyCorp upped their target price on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Monday. Barclays raised their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Bank of America increased their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.42.

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.