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

Swiss National Bank cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 892,887 shares of the utilities provider’s stock after selling 44,400 shares during the period. Swiss National Bank owned approximately 0.28% of WEC Energy Group worth $83,967,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Mizuho Securities USA LLC lifted its position in shares of WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after acquiring an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP raised its position in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at $188,879,000. Charles Schwab Investment Management Inc. boosted its position in shares of WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

WEC opened at $106.89 on Friday. The stock has a fifty day moving average price of $101.25 and a 200 day moving average price of $97.98. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

WEC has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank raised their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. BMO Capital Markets boosted their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $101.88.

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.