Fulton Bank N.A. Sells 128 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Fulton Bank N.A. trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.1% in the 4th quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Private Advisor Group LLC grew its stake in WEC Energy Group by 9.4% in the 2nd quarter. Private Advisor Group LLC now owns 27,621 shares of the utilities provider’s stock worth $2,167,000 after acquiring an additional 2,363 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in WEC Energy Group by 23.8% in the second quarter. Los Angeles Capital Management LLC now owns 4,843 shares of the utilities provider’s stock worth $380,000 after purchasing an additional 930 shares in the last quarter. Acadian Asset Management LLC increased its holdings in WEC Energy Group by 9,971.2% during the 2nd quarter. Acadian Asset Management LLC now owns 138,982 shares of the utilities provider’s stock worth $10,902,000 after purchasing an additional 137,602 shares during the period. First Foundation Advisors raised its position in WEC Energy Group by 6.2% during the 2nd quarter. First Foundation Advisors now owns 3,580 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 210 shares in the last quarter. Finally, Prudential PLC lifted its holdings in shares of WEC Energy Group by 76.4% in the 2nd quarter. Prudential PLC now owns 38,793 shares of the utilities provider’s stock worth $3,044,000 after buying an additional 16,800 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the sale, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the transaction, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock valued at $4,866,579 over the last 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WEC. Wells Fargo & Company lifted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, KeyCorp lifted their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average price target of $98.40.

WEC Energy Group Price Performance

NYSE WEC opened at $94.78 on Thursday. The company has a market cap of $29.98 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.59 and a beta of 0.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock’s fifty day moving average price is $96.67 and its 200 day moving average price is $92.30. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $102.79.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed 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. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.57 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio is 87.29%.

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.