Arden Trust Co reduced its position in shares of WEC Energy Group Inc (NYSE:WEC) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,213 shares of the utilities provider’s stock after selling 250 shares during the period. Arden Trust Co’s holdings in WEC Energy Group were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in WEC. Lantz Financial LLC grew its holdings in WEC Energy Group by 1.6% during the 3rd quarter. Lantz Financial LLC now owns 7,307 shares of the utilities provider’s stock worth $708,000 after acquiring an additional 112 shares during the last quarter. Stock Yards Bank & Trust Co. raised its position in WEC Energy Group by 0.9% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 12,663 shares of the utilities provider’s stock worth $1,227,000 after purchasing an additional 112 shares during the last quarter. Albion Financial Group UT increased its stake in shares of WEC Energy Group by 0.3% in the second quarter. Albion Financial Group UT now owns 40,518 shares of the utilities provider’s stock valued at $3,551,000 after buying an additional 120 shares during the period. Peapack Gladstone Financial Corp increased its position in WEC Energy Group by 1.8% during the 1st quarter. Peapack Gladstone Financial Corp now owns 6,909 shares of the utilities provider’s stock valued at $609,000 after purchasing an additional 121 shares during the period. Finally, Rothschild Investment Corp IL raised its holdings in WEC Energy Group by 0.5% during the 2nd quarter. Rothschild Investment Corp IL now owns 24,815 shares of the utilities provider’s stock worth $2,175,000 after purchasing an additional 125 shares during the last quarter. 73.05% of the stock is owned by institutional investors.
In other news, CEO Charles R. Matthews sold 14,481 shares of WEC Energy Group stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.05, for a total value of $1,376,419.05. Following the completion of the transaction, the chief executive officer now owns 16,223 shares in the company, valued at $1,541,996.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.07. WEC Energy Group had a net margin of 16.26% and a return on equity of 11.36%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $0.74 EPS. WEC Energy Group’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts anticipate that WEC Energy Group Inc will post 3.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.6325 per share. The ex-dividend date is Thursday, November 12th. This represents a $2.53 dividend on an annualized basis and a yield of 2.49%. WEC Energy Group’s dividend payout ratio is presently 70.67%.
WEC has been the subject of several recent analyst reports. Argus increased their price objective on shares of WEC Energy Group from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Atlantic Securities began coverage on WEC Energy Group in a report on Friday, September 4th. They set an “overweight” rating and a $112.00 price target for the company. KeyCorp boosted their price objective on WEC Energy Group from $99.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. Finally, UBS Group cut their target price on WEC Energy Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $91.25.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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