Sequoia Financial Advisors LLC Sells 5,651 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Sequoia Financial Advisors LLC lowered its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 56,905 shares of the utilities provider’s stock after selling 5,651 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in WEC Energy Group were worth $4,465,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC lifted its position in shares of WEC Energy Group by 136.5% during the fourth quarter. Cerity Partners LLC now owns 30,751 shares of the utilities provider’s stock worth $2,588,000 after purchasing an additional 17,750 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth $278,000. Perigon Wealth Management LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth approximately $201,000. Tennessee Valley Asset Management Partners acquired a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $26,000. Finally, Louisiana State Employees Retirement System bought a new position in WEC Energy Group during the 4th quarter worth $1,608,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 0.3 %

Shares of WEC stock traded down $0.24 on Tuesday, hitting $89.00. 717,069 shares of the stock traded hands, compared to its average volume of 2,175,271. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The stock has a market capitalization of $28.11 billion, a PE ratio of 19.35, a PEG ratio of 2.27 and a beta of 0.41. The firm’s 50-day moving average price is $81.49 and its two-hundred day moving average price is $81.01. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $92.23.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. As a group, analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be given a dividend of $0.835 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.75%. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

Analysts Set New Price Targets

WEC has been the subject of a number of research reports. KeyCorp decreased 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. BMO Capital Markets upped their price target on shares of WEC Energy Group from $87.00 to $91.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday. Barclays raised their price objective on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company increased their target price 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. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average price target of $87.31.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the sale, the director now owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The disclosure for this sale can be found here. Insiders have sold 2,462 shares of company stock valued at $218,668 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.