Crews Bank & Trust purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC – Free Report) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,070 shares of the utilities provider’s stock, valued at approximately $289,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coastline Trust Co bought a new position in WEC Energy Group in the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in WEC Energy Group in the second quarter valued at approximately $38,000. Ashton Thomas Securities LLC bought a new position in WEC Energy Group in the third quarter valued at approximately $45,000. Friedenthal Financial bought a new position in WEC Energy Group in the third quarter valued at approximately $50,000. Finally, Future Financial Wealth Managment LLC bought a new position in WEC Energy Group in the third quarter valued at approximately $63,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at WEC Energy Group
In related news, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the transaction, the chief executive officer now 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 transaction was disclosed in a 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 on Monday, November 18th. The shares were sold at an average price of $99.40, for a total transaction of $179,417.00. Following the completion of the transaction, 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 quarter. Company insiders own 0.34% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Research Report on WEC Energy Group
WEC Energy Group Price Performance
WEC stock opened at $99.52 on Friday. The firm has a market cap of $31.48 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.47 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $102.79. The company’s fifty day simple moving average is $96.74 and its 200 day simple moving average is $94.28.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 15.14% and a return on equity of 11.72%. WEC Energy Group’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, analysts expect that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.
WEC Energy Group Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a yield of 3.36%. WEC Energy Group’s payout ratio is 81.66%.
About WEC Energy Group
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.
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