First American Bank Grows Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

First American Bank grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,402 shares of the utilities provider’s stock after buying an additional 119 shares during the period. First American Bank’s holdings in WEC Energy Group were worth $2,671,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WEC. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of WEC Energy Group by 45.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,209 shares of the utilities provider’s stock valued at $1,925,000 after acquiring an additional 6,355 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of WEC Energy Group by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 36,720 shares of the utilities provider’s stock valued at $3,531,000 after purchasing an additional 2,370 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of WEC Energy Group in the 3rd quarter valued at $395,000. Fidelis Capital Partners LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth about $237,000. Finally, First Trust Direct Indexing L.P. raised its position in WEC Energy Group by 13.2% during the third quarter. First Trust Direct Indexing L.P. now owns 11,800 shares of the utilities provider’s stock valued at $1,135,000 after acquiring an additional 1,378 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction 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 completion of the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $105.75 on Friday. The company has a market capitalization of $33.45 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 1-year low of $76.78 and a 1-year high of $106.75. The business has a 50-day moving average of $98.69 and a 200-day moving average of $96.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is 73.91%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WEC. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Scotiabank upped their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets raised their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.88.

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.