Zions Bancorporation N.A. Purchases 29,992 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Zions Bancorporation N.A. lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 932.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,209 shares of the utilities provider’s stock after acquiring an additional 29,992 shares during the quarter. Zions Bancorporation N.A.’s holdings in WEC Energy Group were worth $3,194,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WEC. Global X Japan Co. Ltd. raised its stake 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 buying an additional 118 shares during the period. Olistico Wealth LLC bought a new position in WEC Energy Group during the second quarter worth about $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group during the second quarter worth about $31,000. Triad Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the second quarter worth about $36,000. Finally, ESL Trust Services LLC bought a new stake in shares of WEC Energy Group in the first quarter valued at approximately $37,000. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WEC shares. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price on the stock. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, KeyCorp boosted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average target price of $94.45.

WEC Energy Group Trading Down 0.3 %

Shares of WEC Energy Group stock opened at $97.60 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The firm has a market cap of $30.88 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.52 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $100.31. The business has a 50-day moving average price of $96.12 and a 200-day moving average price of $88.10.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping 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 analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. WEC Energy Group’s quarterly revenue was down 4.8% on a year-over-year basis. Equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.