Fulton Bank N.A. Acquires 429 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Fulton Bank N.A. raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,982 shares of the utilities provider’s stock after buying an additional 429 shares during the quarter. Fulton Bank N.A.’s holdings in WEC Energy Group were worth $245,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of WEC Energy Group by 23.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,477 shares of the utilities provider’s stock worth $203,000 after buying an additional 468 shares during the last quarter. Tompkins Financial Corp lifted its holdings in shares of WEC Energy Group by 62.9% during the first quarter. Tompkins Financial Corp now owns 3,885 shares of the utilities provider’s stock worth $319,000 after buying an additional 1,500 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of WEC Energy Group by 24.5% during the first quarter. GAMMA Investing LLC now owns 8,944 shares of the utilities provider’s stock worth $734,000 after buying an additional 1,758 shares during the last quarter. Somerset Trust Co lifted its holdings in shares of WEC Energy Group by 3.6% during the first quarter. Somerset Trust Co now owns 32,343 shares of the utilities provider’s stock worth $2,656,000 after buying an additional 1,109 shares during the last quarter. Finally, Trust Co. of Toledo NA OH lifted its holdings in shares of WEC Energy Group by 9.5% during the first quarter. Trust Co. of Toledo NA OH now owns 7,489 shares of the utilities provider’s stock worth $615,000 after buying an additional 652 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $78.23 on Friday. The business’s fifty day moving average price is $81.53 and its two-hundred day moving average price is $81.29. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $93.37. The stock has a market capitalization of $24.71 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.05 and a beta of 0.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. As a group, 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 Saturday, June 1st. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s payout ratio is presently 72.93%.

Analyst Ratings Changes

WEC has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price for the company. Scotiabank cut their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Finally, KeyCorp upped their target price on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $85.92.

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.