Blue Trust Inc. Has $1.76 Million Stake in WEC Energy Group, Inc. $WEC

Blue Trust Inc. grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,841 shares of the utilities provider’s stock after buying an additional 1,526 shares during the quarter. Blue Trust Inc.’s holdings in WEC Energy Group were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Robertson Stephens Wealth Management LLC lifted its holdings in shares of WEC Energy Group by 52.8% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 5,373 shares of the utilities provider’s stock valued at $560,000 after buying an additional 1,856 shares during the last quarter. Monument Capital Management lifted its holdings in WEC Energy Group by 35.6% in the 2nd quarter. Monument Capital Management now owns 4,525 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 1,188 shares during the last quarter. Castellan Group lifted its holdings in WEC Energy Group by 6.2% in the 2nd quarter. Castellan Group now owns 32,434 shares of the utilities provider’s stock worth $3,380,000 after purchasing an additional 1,907 shares during the last quarter. Callan Family Office LLC lifted its holdings in WEC Energy Group by 111.1% in the 2nd quarter. Callan Family Office LLC now owns 7,204 shares of the utilities provider’s stock worth $751,000 after purchasing an additional 3,792 shares during the last quarter. Finally, Kampmann Melissa S. acquired a new stake in WEC Energy Group in the 2nd quarter worth approximately $1,217,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WEC shares. UBS Group boosted their target price on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a report on Wednesday. The Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Scotiabank boosted their target price on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $112.20.

WEC Energy Group Stock Up 1.0%

Shares of WEC stock opened at $115.07 on Friday. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $115.90. The firm has a market cap of $37.04 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.13 and a beta of 0.47. The stock has a 50 day moving average of $109.95 and a 200-day moving average of $107.66. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The company had revenue of $2.28 billion during the quarter. On average, equities analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. The ex-dividend date was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. WEC Energy Group’s payout ratio is currently 68.39%.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director directly owned 20,360 shares in the company, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the sale, the executive vice president owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock valued at $7,581,132 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

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.