Gale E. Klappa Sells 10,000 Shares of WEC Energy Group Inc (WEC) Stock

WEC Energy Group Inc (NYSE:WEC) CEO Gale E. Klappa sold 10,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $72.48, for a total transaction of $724,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Gale E. Klappa also recently made the following trade(s):

  • On Friday, November 30th, Gale E. Klappa sold 40,000 shares of WEC Energy Group stock. The stock was sold at an average price of $72.33, for a total transaction of $2,893,200.00.
  • On Monday, December 3rd, Gale E. Klappa sold 50,000 shares of WEC Energy Group stock. The stock was sold at an average price of $72.36, for a total transaction of $3,618,000.00.

WEC Energy Group stock opened at $73.28 on Thursday. The firm has a market cap of $22.87 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 4.99 and a beta of -0.01. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.93. WEC Energy Group Inc has a 52-week low of $58.48 and a 52-week high of $74.16.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.66 billion. WEC Energy Group had a net margin of 16.82% and a return on equity of 11.18%. WEC Energy Group’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities research analysts predict that WEC Energy Group Inc will post 3.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Wednesday, November 14th were paid a dividend of $0.5525 per share. This represents a $2.21 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Tuesday, November 13th. WEC Energy Group’s payout ratio is 70.38%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in WEC Energy Group by 1.5% during the third quarter. Vanguard Group Inc. now owns 34,749,404 shares of the utilities provider’s stock valued at $2,319,871,000 after acquiring an additional 499,213 shares during the last quarter. BlackRock Inc. increased its position in WEC Energy Group by 0.5% during the third quarter. BlackRock Inc. now owns 27,487,557 shares of the utilities provider’s stock valued at $1,835,072,000 after acquiring an additional 124,721 shares during the last quarter. JPMorgan Chase & Co. increased its position in WEC Energy Group by 17.4% during the third quarter. JPMorgan Chase & Co. now owns 8,999,731 shares of the utilities provider’s stock valued at $600,825,000 after acquiring an additional 1,336,719 shares during the last quarter. Renaissance Technologies LLC increased its position in WEC Energy Group by 24.2% during the third quarter. Renaissance Technologies LLC now owns 3,873,402 shares of the utilities provider’s stock valued at $258,588,000 after acquiring an additional 753,600 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in WEC Energy Group by 0.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,725,707 shares of the utilities provider’s stock valued at $240,867,000 after acquiring an additional 26,262 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Several equities analysts have recently commented on WEC shares. Howard Weil started coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 target price on the stock. Wolfe Research downgraded shares of WEC Energy Group from a “market perform” rating to a “sell” rating in a report on Friday, October 26th. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Bank of America downgraded shares of WEC Energy Group from a “buy” rating to a “neutral” rating in a report on Thursday, November 1st. They noted that the move was a valuation call. Finally, Scotia Howard Weill started coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.40.

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About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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