WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,891 shares of the utilities provider’s stock after selling 692 shares during the quarter. Apollon Wealth Management LLC’s holdings in WEC Energy Group were worth $855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WEC. Massmutual Trust Co. FSB ADV boosted its position in shares of WEC Energy Group by 5.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock worth $216,000 after buying an additional 111 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of WEC Energy Group by 2.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock worth $474,000 after buying an additional 117 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Drake & Associates LLC boosted its position in shares of WEC Energy Group by 2.0% in the 3rd quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock worth $598,000 after buying an additional 120 shares in the last quarter. Finally, Park National Corp OH boosted its position in shares of WEC Energy Group by 3.4% in the 3rd quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after buying an additional 130 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WEC has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Barclays upped their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Price Performance

NYSE:WEC opened at $97.98 on Friday. The business’s 50-day moving average price is $96.15 and its 200 day moving average price is $88.15. The firm has a market cap of $31.00 billion, a P/E ratio of 23.62, a PEG ratio of 2.65 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. WEC Energy Group’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is currently 81.66%.

Insider Buying and Selling

In related news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 43.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 46.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.