Kiker Wealth Management LLC Sells 108 Shares of WEC Energy Group, Inc. $WEC

Kiker Wealth Management LLC decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,812 shares of the utilities provider’s stock after selling 108 shares during the period. Kiker Wealth Management LLC’s holdings in WEC Energy Group were worth $397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Horizon Investment Services LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $379,000. Los Angeles Capital Management LLC boosted its holdings in WEC Energy Group by 2,964.9% in the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock valued at $11,841,000 after acquiring an additional 105,106 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in WEC Energy Group in the first quarter valued at $10,333,000. Sowell Financial Services LLC bought a new stake in WEC Energy Group in the first quarter valued at $325,000. Finally, CWA Asset Management Group LLC boosted its holdings in WEC Energy Group by 5.6% in the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Scott J. Lauber sold 9,231 shares of WEC Energy Group stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the completion of the sale, the chief executive officer directly owned 56,443 shares in the company, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president owned 5,829 shares of the company’s stock, valued at $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 in the last three months. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WEC has been the topic of several recent analyst reports. The Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Scotiabank raised their price objective on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, Citigroup initiated coverage on WEC Energy Group in a research report on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.20.

WEC Energy Group Price Performance

WEC opened at $115.02 on Tuesday. The stock has a 50-day moving average price of $110.02 and a 200-day moving average price of $107.74. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The firm has a market cap of $37.02 billion, a PE ratio of 22.03, a P/E/G ratio of 3.16 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $115.90.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The firm had revenue of $2.28 billion during the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were given a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s payout ratio is currently 68.39%.

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.