Insider Selling: PAYNE ULICE JR, WEC Energy Group Inc. [WEC] Director divested 950 shares


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. WEC Energy Group Inc. shares valued at $92,708 were sold by PAYNE ULICE JR on Nov 28. At $97.59 per share, PAYNE ULICE JR sold 950 shares. The insider’s holdings dropped to 21,375 shares worth approximately $1.88 million following the completion of this transaction.

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Also, Lauber Scott J sold 5,000 shares, netting a total of over 485,879 in proceeds. Following the sale of shares at $97.18 each, the insider now holds 24,601 shares.

Before that, Erickson Joshua M had sold 150 shares from its account. In a trade valued at $13,994, the VP and Deputy General Counsel traded WEC Energy Group Inc. shares for $93.30 each. Upon closing the transaction, the insider’s holdings decreased to 150 shares, worth approximately $0.19 million.

As published in a research note from Credit Suisse on July 20, 2022, WEC Energy Group Inc. [WEC] has been rated down from a Neutral to an Underperform and the price target has been revised to $98 from $108. This represents a 10.18% premium over Thursday’s closing price. Analysts at KeyBanc Capital Markets upgraded the stock from ‘”a Sector weight”‘ to ‘”an Overweight”‘ outlook in a report released in late June. As of May 13, 2022, BofA Securities has increased its “Neutral” rating to a “Buy” for WEC. Earlier on April 26, 2022, Credit Suisse initiated its rating. Their recommendation was “a Neutral” for WEC stock.

Analyzing WEC Stock Performance

On Thursday, WEC Energy Group Inc. [NYSE: WEC] rose 1.67% to $88.02. The stock’s lowest price that day was $86.15, but it reached a high of $88.02 in the same session. During the last five days, there has been a drop of approximately -3.38%. Over the course of the year, WEC Energy Group Inc. shares have dropped approximately -6.12%. Shares of the company reached a 52-week high of $98.60 on 01/12/23 and a 52-week low of $86.15 on 03/02/23. A 50-day SMA is recorded $93.26, while a 200-day SMA reached $96.91. Nevertheless, trading volume fell to 1.28 million shares from 1.68 million shares the previous day.

Support And Resistance Levels for WEC Energy Group Inc. (WEC)

According to the 24-hour chart, there is a support level at 86.77, which, if violated, would cause prices to drop to 85.53. In the upper region, resistance lies at 88.64. The next price resistance is at 89.27. RSI (Relative Strength Index) is 35.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.15, which suggests the price will decrease in the coming days. Percent R is at 73.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is WEC Energy Group Inc. subject to short interest?

Stocks of WEC Energy Group Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.5 million shares to 4.56 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 5.06 million shares. A decline of -10.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.37 of the overall float, the days-to-cover ratio (short ratio) decline to 3.37.

Which companies own the most shares of WEC Energy Group Inc. (WEC)?

According to The Vanguard Group, Inc. filings, the company currently owns 40,636,734 shares, which is about 12.88% of the total WEC shares outstanding. The investor’s shares have appreciated by 585,848 from its previous 13-F filing of 40050886.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $2,258,015,290. SSgA Funds Management, Inc. reduced a -2.12% interest valued at $1.78 billion while Geode Capital Management LLC purchased a 115,820 stake. A total of -61,585 shares of WEC Energy Group Inc. were bought by Wells Fargo Clearing Services LLC during the quarter, and 471,910 were bought by JPMorgan Investment Management, I. In its current portfolio, Magellan Asset Management Ltd. holds 5,183,749 shares valued at $487.22 million.

In terms of WEC Energy Group Inc. share price expectations, FactSet research, analysts set an average price target of $102.36 in the next 12 months, up nearly 18.98% from the previous closing price of $86.57. Analysts anticipate WEC Energy Group Inc. stock to reach $111.00 by 2023, with the lowest price target being $94.00. In spite of this, 15 analysts ranked WEC Energy Group Inc. stock as a Hold at the end of 2023.


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