WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Cape Cod Five Cents Savings Bank

Cape Cod Five Cents Savings Bank lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,271 shares of the utilities provider’s stock after purchasing an additional 551 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in WEC Energy Group were worth $3,969,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WEC. Coastline Trust Co purchased a new stake in WEC Energy Group during the 3rd quarter worth $29,000. Global X Japan Co. Ltd. increased its position in shares of 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 worth $25,000 after acquiring an additional 118 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of WEC Energy Group in the second quarter worth about $31,000. Triad Wealth Partners LLC purchased a new position in WEC Energy Group in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in WEC Energy Group during the 3rd quarter valued at approximately $45,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of WEC opened at $97.09 on Monday. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $102.79. 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 has a fifty day moving average price of $97.67 and a 200 day moving average price of $89.97. The company has a market cap of $30.71 billion, a P/E ratio of 23.74, a PEG ratio of 2.63 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. On average, 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 announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a $0.8925 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.57 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Analysts Set New Price Targets

WEC has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. KeyCorp increased their price objective 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. Scotiabank increased their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Barclays upped their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group started coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.55.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 1,805 shares of the stock in a transaction 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 transaction, the director now directly owns 273,248 shares of the company’s stock, valued at approximately $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 have sold 48,794 shares of company stock valued at $4,866,579 in the last quarter. Corporate insiders own 0.44% of the company’s stock.

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.