Allspring Global Investments Holdings LLC Purchases 11,198 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Allspring Global Investments Holdings LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,214 shares of the utilities provider’s stock after purchasing an additional 11,198 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in WEC Energy Group were worth $12,716,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Czech National Bank boosted its position in WEC Energy Group by 7.0% during the third quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after acquiring an additional 4,205 shares during the last quarter. Empowered Funds LLC boosted its position in shares of WEC Energy Group by 139.6% during the 1st quarter. Empowered Funds LLC now owns 30,792 shares of the utilities provider’s stock valued at $2,529,000 after purchasing an additional 17,938 shares in the last quarter. Duality Advisers LP grew its stake in WEC Energy Group by 69.8% during the first quarter. Duality Advisers LP now owns 54,659 shares of the utilities provider’s stock worth $4,489,000 after purchasing an additional 22,478 shares during the period. Intech Investment Management LLC grew its stake in WEC Energy Group by 335.4% during the first quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock worth $4,442,000 after purchasing an additional 41,668 shares during the period. Finally, Norden Group LLC bought a new stake in WEC Energy Group in the first quarter worth approximately $9,095,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Joshua M. Erickson sold 350 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock valued at $1,078,058 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. KeyCorp lifted their price target 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. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets increased their price target on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Stock Down 1.6 %

Shares of NYSE:WEC opened at $97.19 on Friday. The business’s 50 day moving average is $94.97 and its 200 day moving average is $86.51. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The stock has a market cap of $30.69 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.54 and a beta of 0.44. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be paid a $0.835 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.44%. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

WEC Energy Group Company 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.