WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Boosted by Swiss National Bank

Swiss National Bank lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 937,287 shares of the utilities provider’s stock after acquiring an additional 3,000 shares during the quarter. Swiss National Bank’s holdings in WEC Energy Group were worth $90,148,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Global X Japan Co. Ltd. lifted its holdings in shares of WEC Energy Group by 58.1% in the second 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 purchased a new stake in shares of WEC Energy Group during the second quarter worth $29,000. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the third quarter worth $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group during the second quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of WEC Energy Group during the second quarter worth $36,000. 77.20% of the stock is owned by institutional investors.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 46.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The trade was a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $99.28 on Tuesday. The firm’s 50 day simple moving average is $96.33 and its 200 day simple moving average is $88.45. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $31.41 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.66 and a beta of 0.44. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $100.31.

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

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.36%. WEC Energy Group’s dividend payout ratio is 81.66%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. KeyCorp increased their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Barclays increased their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Scotiabank increased their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets increased 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 research report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group 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.