Bank of America Corp DE Purchases 128,313 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Bank of America Corp DE grew its position in shares of WEC Energy Group, Inc. (NYSE:WECGet Rating) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,636,213 shares of the utilities provider’s stock after purchasing an additional 128,313 shares during the quarter. Bank of America Corp DE owned approximately 1.79% of WEC Energy Group worth $562,551,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Princeton Global Asset Management LLC increased its position in shares of WEC Energy Group by 150.0% during the 1st quarter. Princeton Global Asset Management LLC now owns 250 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of WEC Energy Group during the 1st quarter valued at about $27,000. Riverview Trust Co bought a new position in shares of WEC Energy Group during the 1st quarter valued at about $34,000. Credit Agricole S A bought a new position in shares of WEC Energy Group during the 4th quarter valued at about $40,000. Finally, Cyrus J. Lawrence LLC bought a new position in shares of WEC Energy Group during the 1st quarter valued at about $42,000. 75.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on WEC. Wells Fargo & Company raised their price target on WEC Energy Group from $111.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 3rd. Mizuho reduced their price target on WEC Energy Group from $107.00 to $93.00 and set a “neutral” rating on the stock in a research report on Friday, June 17th. Credit Suisse Group lowered WEC Energy Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $108.00 to $98.00 in a research report on Wednesday, July 20th. Finally, Barclays reduced their price target on WEC Energy Group from $108.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.33.

Insider Activity

In other news, EVP William Mastoris sold 4,690 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $105.04, for a total value of $492,637.60. Following the completion of the transaction, the executive vice president now owns 2,506 shares in the company, valued at approximately $263,230.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

Shares of WEC stock opened at $101.29 on Friday. The firm has a market cap of $31.95 billion, a P/E ratio of 23.39, a P/E/G ratio of 3.78 and a beta of 0.28. WEC Energy Group, Inc. has a fifty-two week low of $86.84 and a fifty-two week high of $108.39. The business’s 50 day moving average price is $103.34 and its 200-day moving average price is $101.06. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.54 and a current ratio of 0.69.

WEC Energy Group (NYSE:WECGet Rating) last released its earnings results on Tuesday, August 2nd. The utilities provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $1.76 billion. WEC Energy Group had a return on equity of 12.15% and a net margin of 15.23%. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.39 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.7275 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, August 11th. WEC Energy Group’s payout ratio is presently 67.21%.

WEC Energy Group Company Profile

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WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

See Also

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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