Sanibel Captiva Trust Company Inc. Grows Stake in WEC Energy Group, Inc. (NYSE:WEC)

Sanibel Captiva Trust Company Inc. grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 40.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,133 shares of the utilities provider’s stock after acquiring an additional 1,182 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in WEC Energy Group were worth $398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WEC. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. lifted its stake in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at approximately $29,000. Finally, William B. Walkup & Associates Inc. purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.6 %

WEC Energy Group stock opened at $95.45 on Friday. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.42 and a beta of 0.44. The stock has a fifty day simple moving average of $93.09 and a two-hundred day simple moving average of $85.31. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $97.08. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Equities analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s payout ratio is 77.14%.

Insiders Place Their Bets

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares of the company’s stock, valued at $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,702 shares of company stock valued at $1,078,058. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of research analyst reports. Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. KeyCorp raised their target price on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets raised their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $93.73.

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.