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

Fiduciary Trust Co grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,952 shares of the utilities provider’s stock after purchasing an additional 1,509 shares during the quarter. Fiduciary Trust Co’s holdings in WEC Energy Group were worth $936,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WEC. Larson Financial Group LLC grew its position in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in WEC Energy Group in the 4th quarter worth $28,000. Hoey Investments Inc. purchased a new stake in WEC Energy Group during the fourth quarter valued at about $42,000. Human Investing LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at about $52,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 345 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 0.3 %

Shares of WEC opened at $107.65 on Friday. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average price is $107.08 and its 200-day moving average price is $101.44. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business posted $1.97 earnings per share. WEC Energy Group’s quarterly revenue was up 17.5% compared to the same quarter last year. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $0.8975 dividend. This represents a $3.59 annualized dividend and a yield of 3.33%. 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. WEC Energy Group’s dividend payout ratio is presently 69.59%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several recent research reports. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays increased their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $107.13.

Insiders Place Their Bets

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

WEC Energy Group 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.