Moors & Cabot Inc. Has $513,000 Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Moors & Cabot Inc. grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,331 shares of the utilities provider’s stock after acquiring an additional 627 shares during the period. Moors & Cabot Inc.’s holdings in WEC Energy Group were worth $513,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Coastline Trust Co acquired a new stake in WEC Energy Group in the third quarter valued at approximately $29,000. Global X Japan Co. Ltd. raised its holdings 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 valued at $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at $29,000. William B. Walkup & Associates Inc. bought a new stake in WEC Energy Group in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group during the second quarter worth $36,000. Institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In other news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. This trade represents a 43.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares in the company, valued at approximately $340,712.48. The trade was a 46.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,314 shares of company stock worth $5,047,988 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WEC shares. KeyCorp boosted their price target on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America upped their target price on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Scotiabank lifted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Finally, 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Stock Performance

NYSE WEC opened at $100.66 on Friday. The company’s fifty day moving average is $96.69 and its two-hundred day moving average is $88.85. The firm has a market capitalization of $31.84 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.69 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $101.43.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.32%. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

About WEC Energy Group

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.