Rockland Trust Co. Acquires 1,150 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Rockland Trust Co. raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,712 shares of the utilities provider’s stock after acquiring an additional 1,150 shares during the period. Rockland Trust Co.’s holdings in WEC Energy Group were worth $11,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Bank & Trust Co bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the first quarter worth $25,000. Global X Japan Co. Ltd. boosted its position in WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC bought a new position in WEC Energy Group in the 2nd quarter valued at $29,000. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WEC. Wells Fargo & Company lifted their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Scotiabank lifted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.69.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now directly owns 21,876 shares in the company, valued at $1,934,932.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,702 shares of company stock worth $1,078,058. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 0.1 %

Shares of NYSE:WEC opened at $96.31 on Friday. The firm has a fifty day moving average price of $92.21 and a two-hundred day moving average price of $84.83. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.48 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $97.08.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were given a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 annualized dividend and a yield of 3.47%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

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.