Stock Yards Bank & Trust Co. Has $1.11 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Stock Yards Bank & Trust Co. lessened its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,157 shares of the utilities provider’s stock after selling 1,558 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in WEC Energy Group were worth $1,111,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Northwest Bank & Trust Co bought a new stake in WEC Energy Group during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the 1st quarter valued at about $25,000. Global X Japan Co. Ltd. grew its position in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group during the second quarter worth approximately $29,000. Finally, YHB Investment Advisors Inc. acquired a new position in WEC Energy Group in the first quarter valued at approximately $32,000. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the sale, the vice president now owns 2,377 shares of the company’s stock, valued at $213,335.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Ulice Payne, Jr. sold 750 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock valued at $1,078,058 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEC. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Scotiabank lifted their price objective on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp increased their target price on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday. Barclays boosted their target price on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Bank of America lifted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.42.

WEC Energy Group Stock Down 0.4 %

WEC Energy Group stock opened at $95.74 on Wednesday. The company has a 50 day moving average of $88.87 and a 200-day moving average of $83.66. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $96.65. The stock has a market capitalization of $30.26 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

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.