Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in WEC Energy Group, Inc. (NYSE:WEC)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the 4th quarter, Holdings Channel reports. The fund owned 62,149 shares of the utilities provider’s stock after selling 981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WEC Energy Group were worth $5,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group during the fourth quarter valued at approximately $26,000. Achmea Investment Management B.V. purchased a new stake in shares of WEC Energy Group in the first quarter valued at approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $28,000. First Manhattan Co. increased its position in shares of WEC Energy Group by 102.0% in the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $33,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

NYSE:WEC opened at $81.56 on Monday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $98.80. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $25.73 billion, a P/E ratio of 19.33, a P/E/G ratio of 2.84 and a beta of 0.40. The stock’s fifty day moving average is $79.78 and its two-hundred day moving average is $81.38.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. Equities analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.10%. WEC Energy Group’s dividend payout ratio is presently 79.15%.

Insider Activity at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WEC. Barclays cut their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Wells Fargo & Company lowered their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. The Goldman Sachs Group started coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. Finally, Royal Bank of Canada lowered 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. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.38.

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.