Penobscot Investment Management Company Inc. Sells 2,911 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Penobscot Investment Management Company Inc. trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 8.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 32,669 shares of the utilities provider’s stock after selling 2,911 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in WEC Energy Group were worth $2,750,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in shares of WEC Energy Group during the 4th quarter valued at about $26,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at about $33,000. Authentikos Wealth Advisory LLC purchased a new position in shares of WEC Energy Group during the 3rd quarter valued at about $38,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at about $40,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. The Goldman Sachs Group initiated coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. Barclays decreased their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Finally, Wells Fargo & Company decreased their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.64.

WEC Energy Group Trading Down 0.0 %

WEC Energy Group stock traded down $0.04 during mid-day trading on Tuesday, hitting $82.76. The company’s stock had a trading volume of 678,233 shares, compared to its average volume of 2,110,477. The company has a 50 day moving average of $80.34 and a 200-day moving average of $81.42. The stock has a market cap of $26.10 billion, a PE ratio of 19.62, a P/E/G ratio of 2.82 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $97.34.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the company posted $0.80 EPS. WEC Energy Group’s quarterly revenue was down 13.3% on a year-over-year basis. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is currently 79.15%.

Insider Buying and Selling

In related news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

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.