Huntington National Bank Acquires 2,542 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Huntington National Bank grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 246,408 shares of the utilities provider’s stock after buying an additional 2,542 shares during the quarter. Huntington National Bank’s holdings in WEC Energy Group were worth $23,700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WEC. Czech National Bank grew its stake in WEC Energy Group by 7.0% in the third quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock worth $6,193,000 after purchasing an additional 4,205 shares in the last quarter. Intech Investment Management LLC lifted its holdings 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 buying an additional 41,668 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in WEC Energy Group by 20.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 423,718 shares of the utilities provider’s stock worth $34,796,000 after buying an additional 71,439 shares during the period. Russell Investments Group Ltd. lifted its holdings in WEC Energy Group by 19.4% during the first quarter. Russell Investments Group Ltd. now owns 109,421 shares of the utilities provider’s stock worth $8,985,000 after buying an additional 17,807 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in WEC Energy Group by 2,949.7% during the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock worth $18,204,000 after buying an additional 224,410 shares during the period. Institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the 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 directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were 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 disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $97.60 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock’s fifty day moving average price is $96.06 and its 200 day moving average price is $88.03. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $100.31. The company 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 (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. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.42%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Analyst Ratings Changes

A number of research firms have weighed in on WEC. Jefferies Financial Group began coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 target price for the company. Bank of America increased their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Barclays increased their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.45.

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.