WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Private Trust Co. NA

Private Trust Co. NA lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,389 shares of the utilities provider’s stock after buying an additional 152 shares during the period. Private Trust Co. NA’s holdings in WEC Energy Group were worth $518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mizuho Securities USA LLC raised its stake in shares of WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares during the period. American Century Companies Inc. boosted its holdings in shares of WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after acquiring an additional 688,812 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of WEC Energy Group by 151.7% during the third quarter. Assenagon Asset Management S.A. now owns 583,990 shares of the utilities provider’s stock worth $56,168,000 after acquiring an additional 351,972 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in WEC Energy Group by 10,220.1% during the third quarter. International Assets Investment Management LLC now owns 303,515 shares of the utilities provider’s stock worth $29,192,000 after purchasing an additional 300,574 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.3 %

Shares of WEC Energy Group stock opened at $101.83 on Thursday. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $102.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The business has a 50 day moving average price of $97.05 and a 200 day moving average price of $89.22. The company has a market capitalization of $32.21 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.76 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.28%. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Analyst Ratings Changes

A number of brokerages have weighed in on WEC. Scotiabank lifted their price objective on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. KeyCorp upped their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays increased their price target on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.45.

Insider Activity

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The trade was a 46.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,034 shares of company stock valued at $5,168,029 over the last 90 days. Insiders own 0.34% 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.