Swiss National Bank Cuts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Swiss National Bank decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 986,287 shares of the utilities provider’s stock after selling 28,400 shares during the quarter. Swiss National Bank owned about 0.31% of WEC Energy Group worth $83,016,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group in the fourth quarter worth about $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group during the 4th quarter valued at $28,000. Fortitude Family Office LLC bought a new position in WEC Energy Group in the 4th quarter valued at $33,000. Authentikos Wealth Advisory LLC purchased a new stake in WEC Energy Group in the third quarter worth $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of WEC Energy Group during the third quarter worth $38,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 0.2 %

NYSE:WEC opened at $83.22 on Friday. The company’s 50-day simple moving average is $80.69 and its 200-day simple moving average is $81.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $96.17. The stock has a market capitalization of $26.25 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.88 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm earned $1.61 earnings per share. WEC Energy Group’s revenue was down 7.2% compared to the same quarter last year. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on WEC. KeyCorp raised their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada dropped their price objective on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Wells Fargo & Company dropped their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Barclays decreased their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $86.29.

Insider Buying and Selling at WEC Energy Group

In other 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 transaction of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group 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 sale, the chairman now owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently 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.