JGP Wealth Management LLC Sells 85,395 Shares of WEC Energy Group, Inc. (NYSE:WEC)

JGP Wealth Management LLC decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 95.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,075 shares of the utilities provider’s stock after selling 85,395 shares during the period. JGP Wealth Management LLC’s holdings in WEC Energy Group were worth $320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group in the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the first quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new stake in WEC Energy Group in the fourth quarter worth $26,000. Olistico Wealth LLC purchased a new stake in WEC Energy Group in the second quarter worth $29,000. Finally, First United Bank & Trust purchased a new stake in WEC Energy Group in the fourth quarter worth $30,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the sale, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Stock Performance

NYSE WEC traded up $0.17 during trading hours on Friday, hitting $87.98. The company’s stock had a trading volume of 1,838,530 shares, compared to its average volume of 2,179,300. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $92.23. The company’s 50 day simple moving average is $81.33 and its two-hundred day simple moving average is $80.93. The company has a market cap of $27.79 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping 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 the consensus estimate of $1.87 billion. During the same period last year, the company earned $0.92 EPS. WEC Energy Group’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.80%. WEC Energy Group’s payout ratio is 72.93%.

Analysts Set New Price Targets

Several brokerages have commented on WEC. Wells Fargo & Company raised their price objective on WEC Energy Group from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. KeyCorp lowered their price objective on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday. BMO Capital Markets raised their price objective on WEC Energy Group from $87.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Scotiabank lowered their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research 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 company. According to MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $87.31.

WEC Energy Group 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.