Courier Capital LLC Trims Holdings in WEC Energy Group, Inc. $WEC

Courier Capital LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,086 shares of the utilities provider’s stock after selling 95 shares during the quarter. Courier Capital LLC’s holdings in WEC Energy Group were worth $426,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC raised its stake in shares of WEC Energy Group by 1.6% in the second quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock worth $595,000 after purchasing an additional 92 shares during the last quarter. Manchester Capital Management LLC raised its position in WEC Energy Group by 14.3% during the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 93 shares in the last quarter. Liberty Capital Management Inc. raised its position in WEC Energy Group by 3.8% during the second quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 97 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in WEC Energy Group by 3.0% during the first quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 98 shares in the last quarter. Finally, Callan Capital LLC raised its position in WEC Energy Group by 2.7% during the first quarter. Callan Capital LLC now owns 3,845 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 100 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEC has been the subject of several recent research reports. Scotiabank lifted their price target 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. The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their price target for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. 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 target for the company. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, UBS Group lifted their price target on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.20.

WEC Energy Group Stock Up 1.4%

WEC Energy Group stock opened at $116.55 on Wednesday. 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 business has a 50 day simple moving average of $110.15 and a 200-day simple moving average of $107.80. The stock has a market capitalization of $37.51 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 3.24 and a beta of 0.47. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $117.20.

WEC Energy Group (NYSE:WEC) last issued 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 for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. On average, analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the transaction, the executive vice president owned 5,829 shares of the company’s stock, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the transaction, the director directly owned 20,360 shares in the company, valued at $2,259,960. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,448 shares of company stock valued at $7,581,132. Insiders own 0.50% 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.