Stock Yards Bank & Trust Co. Buys 240 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Stock Yards Bank & Trust Co. boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,029 shares of the utilities provider’s stock after purchasing an additional 240 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in WEC Energy Group were worth $1,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Marcum Wealth LLC lifted its holdings in shares of WEC Energy Group by 1.3% during the 1st quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider’s stock worth $808,000 after acquiring an additional 93 shares during the period. Clean Yield Group lifted its stake in WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 97 shares during the last quarter. MJP Associates Inc. ADV boosted its holdings in shares of WEC Energy Group by 3.4% in the 4th quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 98 shares in the last quarter. Peak Financial Advisors LLC boosted its holdings in shares of WEC Energy Group by 1.9% in the 1st quarter. Peak Financial Advisors LLC now owns 5,339 shares of the utilities provider’s stock valued at $582,000 after purchasing an additional 100 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in shares of WEC Energy Group by 1.9% in the 4th quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the sale, the vice president now owns 2,686 shares in the company, valued at $289,470.22. This represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

WEC Energy Group Stock Performance

NYSE:WEC opened at $104.92 on Friday. The stock’s 50-day moving average is $106.83 and its 200-day moving average is $102.83. The stock has a market cap of $33.48 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 EPS. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a $0.8975 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is 69.59%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WEC. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Barclays raised their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.13.

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.