Trust Point Inc. acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,958 shares of the utilities provider’s stock, valued at approximately $213,000.
Several other large investors have also bought and sold shares of the business. Larson Financial Group LLC raised its holdings in WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares during the period. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the first quarter worth $32,000. Prudent Man Investment Management Inc. acquired a new stake in WEC Energy Group in the fourth quarter worth $28,000. Hoey Investments Inc. acquired a new stake in WEC Energy Group in the fourth quarter worth $42,000. Finally, Cullen Frost Bankers Inc. raised its holdings in WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 345 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have weighed in on WEC. Barclays increased their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $107.13.
WEC Energy Group Stock Down 0.4%
Shares of WEC stock opened at $103.72 on Thursday. The company has a market capitalization of $33.10 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.86 and a beta of 0.45. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The firm has a fifty day moving average of $106.83 and a 200-day moving average of $102.87. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.97 earnings per share. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.
WEC Energy Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a $0.8975 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.46%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio (DPR) is 69.59%.
Insider Activity at WEC Energy Group
In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the sale, the vice president now owns 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.
About WEC Energy Group
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.
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