Cullen Frost Bankers Inc. Purchases 495 Shares of WEC Energy Group, Inc. $WEC

Cullen Frost Bankers Inc. raised its stake in WEC Energy Group, Inc. (NYSE:WEC) by 63.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,276 shares of the utilities provider’s stock after purchasing an additional 495 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in WEC Energy Group were worth $133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WEC. Truvestments Capital LLC bought a new stake in WEC Energy Group in the first quarter valued at approximately $25,000. Nova Wealth Management Inc. bought a new stake in WEC Energy Group in the first quarter valued at approximately $26,000. Bayforest Capital Ltd bought a new stake in WEC Energy Group in the second quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group in the first quarter valued at approximately $28,000. Finally, ORG Partners LLC increased its stake in shares of WEC Energy Group by 65.7% during the second quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock valued at $34,000 after buying an additional 130 shares during the period. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research note on Friday. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. KeyCorp boosted their target price on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. BTIG Research raised WEC Energy Group to a “strong-buy” rating in a research note on Wednesday. Finally, Scotiabank boosted their target price on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $118.83.

WEC Energy Group Trading Down 0.1%

NYSE WEC opened at $115.83 on Friday. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18. The stock has a market cap of $37.28 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.27 and a beta of 0.47. The stock’s fifty day moving average price is $111.32 and its 200-day moving average price is $108.39. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last released its 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 firm had revenue of $2.28 billion for the quarter. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Insider Activity

In other news, CEO Scott J. Lauber sold 9,231 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the transaction, the chief executive officer directly owned 56,443 shares of the company’s stock, valued at $6,258,399.84. This represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,448 shares of company stock valued at $7,581,132. Corporate insiders own 0.50% of the company’s stock.

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.