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

Cape Cod Five Cents Savings Bank boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,271 shares of the utilities provider’s stock after buying an additional 551 shares during the quarter. 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 and hedge funds also recently modified their holdings of the stock. Mizuho Securities USA LLC boosted its position in shares of WEC Energy Group by 106,685.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after purchasing an additional 25,975,652 shares during the period. Wellington Management Group LLP increased its position in shares of WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after acquiring an additional 4,691,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of WEC Energy Group by 36.7% during the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after acquiring an additional 688,812 shares during the period. Finally, Earnest Partners LLC lifted its position in shares of WEC Energy Group by 11.8% in the 2nd quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock valued at $153,372,000 after acquiring an additional 206,637 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.6 %

WEC Energy Group stock opened at $97.09 on Monday. The company has a market capitalization of $30.71 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.63 and a beta of 0.46. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The firm’s fifty day simple moving average is $97.67 and its 200-day simple moving average is $89.97. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. The company 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 business’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. Sell-side analysts forecast that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.8925 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.68%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WEC shares. Jefferies Financial Group began coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Bank of America lifted their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. BMO Capital Markets lifted their target price on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research note on Monday, December 2nd. Finally, Wells Fargo & Company increased their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.55.

Insider Buying and Selling at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 45,709 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 1,805 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the sale, the director now owns 273,248 shares in the company, valued at approximately $27,160,851.20. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,794 shares of company stock worth $4,866,579 over the last 90 days. 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.