Fulton Bank N.A. reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,536 shares of the utilities provider’s stock after selling 128 shares during the quarter. Fulton Bank N.A.’s holdings in WEC Energy Group were worth $1,085,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its holdings in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the last quarter. Coastline Trust Co bought a new stake in shares of WEC Energy Group during the 3rd quarter valued at $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group in the 2nd quarter worth $31,000. Strategic Investment Solutions Inc. IL bought a new position in WEC Energy Group in the 2nd quarter worth $38,000. Finally, Ashton Thomas Securities LLC purchased a new position in WEC Energy Group during the third quarter valued at $45,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.
WEC Energy Group Price Performance
NYSE:WEC opened at $94.78 on Thursday. The business’s 50-day moving average is $96.67 and its 200 day moving average is $92.30. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $102.79. The company has a market capitalization of $29.98 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.59 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.
WEC Energy Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.8925 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.77%. WEC Energy Group’s payout ratio is 87.29%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Scotiabank upped their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. BMO Capital Markets raised their price objective on shares of WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research report on Monday, December 2nd. Finally, KeyCorp lifted their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued 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 a consensus target price of $98.40.
View Our Latest Stock Analysis on WEC
Insider Activity
In related news, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the sale, the director now owns 273,248 shares in the company, valued at approximately $27,160,851.20. This represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by corporate 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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