UMB Bank n.a. Purchases 210 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Posted by on Jun 24th, 2023

UMB Bank n.a. increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,097 shares of the utilities provider’s stock after purchasing an additional 210 shares during the period. UMB Bank n.a.’s holdings in WEC Energy Group were worth $294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CHICAGO TRUST Co NA grew its position in WEC Energy Group by 25.3% in the first quarter. CHICAGO TRUST Co NA now owns 8,906 shares of the utilities provider’s stock valued at $844,000 after acquiring an additional 1,800 shares during the period. Kesler Norman & Wride LLC grew its position in WEC Energy Group by 7.6% in the first quarter. Kesler Norman & Wride LLC now owns 16,884 shares of the utilities provider’s stock valued at $1,600,000 after acquiring an additional 1,193 shares during the period. Dfpg Investments LLC grew its position in WEC Energy Group by 13.0% in the first quarter. Dfpg Investments LLC now owns 2,531 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 291 shares during the period. Hummer Financial Advisory Services Inc grew its position in WEC Energy Group by 1.6% in the first quarter. Hummer Financial Advisory Services Inc now owns 11,622 shares of the utilities provider’s stock valued at $1,102,000 after acquiring an additional 180 shares during the period. Finally, Lantz Financial LLC grew its position in WEC Energy Group by 10.2% in the first quarter. Lantz Financial LLC now owns 7,280 shares of the utilities provider’s stock valued at $690,000 after acquiring an additional 673 shares during the period. 74.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $94.36, for a total value of $141,540.00. Following the transaction, the director now owns 21,503 shares of the company’s stock, valued at $2,029,023.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America lowered their price target on WEC Energy Group from $106.00 to $103.00 in a research report on Wednesday, May 3rd. JPMorgan Chase & Co. increased their target price on WEC Energy Group from $99.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 19th. 888 restated a “maintains” rating on shares of WEC Energy Group in a report on Wednesday, May 3rd. StockNews.com assumed coverage on WEC Energy Group in a report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Evercore ISI decreased their target price on WEC Energy Group from $98.00 to $91.00 in a report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average target price of $99.27.

WEC Energy Group Trading Down 1.5 %

Shares of WEC opened at $87.90 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.75 and a debt-to-equity ratio of 1.32. WEC Energy Group, Inc. has a 12-month low of $80.82 and a 12-month high of $108.20. The firm has a market capitalization of $27.73 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.45 and a beta of 0.41. The stock’s fifty day simple moving average is $91.80 and its 200-day simple moving average is $93.08.

WEC Energy Group (NYSE:WEC – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The utilities provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.03. WEC Energy Group had a return on equity of 11.60% and a net margin of 14.10%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts predict that WEC Energy Group, Inc. will post 4.6 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.55%. The ex-dividend date was Thursday, May 11th. WEC Energy Group’s payout ratio is 72.90%.

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.

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

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