WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Commerce Bank

Commerce Bank lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,166 shares of the utilities provider’s stock after purchasing an additional 4,778 shares during the quarter. Commerce Bank’s holdings in WEC Energy Group were worth $6,579,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of WEC Energy Group during the fourth quarter worth about $26,000. Valued Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter worth about $28,000. First United Bank & Trust acquired a new stake in shares of WEC Energy Group during the fourth quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter worth about $33,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in shares of WEC Energy Group during the third quarter worth about $38,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $80.70 on Friday. The firm has a market capitalization of $25.49 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.09 and a beta of 0.40. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $93.37. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $81.96 and its two-hundred day moving average is $81.61.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 4.86 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.14%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Analyst Ratings Changes

WEC has been the topic of several research reports. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. Scotiabank reduced their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $86.29.

WEC Energy Group Company 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.