Trustmark National Bank Trust Department Makes New $202,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Trustmark National Bank Trust Department purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,100 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other institutional investors have also made changes to their positions in the stock. Global X Japan Co. Ltd. grew 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 worth $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new position in WEC Energy Group in the 2nd quarter valued at about $29,000. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $36,000. 77.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WEC shares. Bank of America boosted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Scotiabank boosted their price target on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Barclays lifted their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. KeyCorp increased their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group started coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $100.66 on Friday. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.74 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $101.43. The company’s fifty day moving average is $96.69 and its 200 day moving average is $88.85. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. Sell-side 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 disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,314 shares of company stock worth $5,047,988 over the last three months. 0.34% of the stock is owned by company insiders.

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.