WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 986,287 shares of the utilities provider’s stock after selling 28,400 shares during the quarter. Swiss National Bank’s holdings in WEC Energy Group were worth $83,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group in the 4th quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new position in shares of WEC Energy Group in the fourth quarter worth $33,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of WEC Energy Group during the third quarter worth $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of WEC Energy Group in the third quarter valued at $38,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 0.2 %

Shares of WEC Energy Group stock opened at $83.22 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $80.69 and a 200-day simple moving average of $81.44. The stock has a market cap of $26.25 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.88 and a beta of 0.40. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.17.

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 during the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. WEC Energy Group’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.01%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

Insiders Place Their Bets

In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WEC has been the subject of several analyst reports. The Goldman Sachs Group began coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Royal Bank of Canada reduced their target price on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Barclays decreased their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Finally, BMO Capital Markets increased their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday. Four 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. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $86.29.

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.