Fiduciary Trust Co Acquires 1,509 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Fiduciary Trust Co boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 17.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,952 shares of the utilities provider’s stock after acquiring an additional 1,509 shares during the quarter. Fiduciary Trust Co’s holdings in WEC Energy Group were worth $936,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in shares of WEC Energy Group by 3.1% during the fourth quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider’s stock valued at $538,112,000 after buying an additional 173,006 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in WEC Energy Group by 2.1% during the 4th quarter. EP Wealth Advisors LLC now owns 6,185 shares of the utilities provider’s stock valued at $582,000 after acquiring an additional 125 shares in the last quarter. Collar Capital Management LLC purchased a new position in WEC Energy Group during the 4th quarter worth $2,124,000. Colonial Trust Co SC grew its stake in shares of WEC Energy Group by 1.1% in the 4th quarter. Colonial Trust Co SC now owns 20,775 shares of the utilities provider’s stock worth $1,954,000 after acquiring an additional 216 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in shares of WEC Energy Group by 18.2% in the fourth quarter. CoreCap Advisors LLC now owns 1,306 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

WEC Energy Group Stock Down 0.3 %

Shares of NYSE WEC opened at $107.65 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock has a market capitalization of $34.35 billion, a PE ratio of 22.29, a P/E/G ratio of 2.60 and a beta of 0.46. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The business’s fifty day moving average price is $107.08 and its 200-day moving average price is $101.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 earnings per share. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.33%. WEC Energy Group’s payout ratio is presently 69.59%.

Analyst Ratings Changes

Several research firms recently weighed in on WEC. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised WEC Energy Group from an “underweight” rating to a “neutral” rating and upped their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. Finally, BMO Capital Markets lifted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $107.13.

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.