Legal & General Group Plc raised its holdings in WEC Energy Group Inc (NYSE:WEC) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,681,586 shares of the utilities provider’s stock after acquiring an additional 70,130 shares during the quarter. Legal & General Group Plc owned 0.85% of WEC Energy Group worth $168,147,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bray Capital Advisors acquired a new stake in WEC Energy Group during the 1st quarter worth about $100,000. Advisory Services Network LLC raised its holdings in WEC Energy Group by 157.2% during the 4th quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,033 shares during the period. Financial Gravity Companies Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth about $122,000. Well Done LLC acquired a new stake in WEC Energy Group during the 1st quarter worth about $144,000. Finally, Signaturefd LLC acquired a new stake in WEC Energy Group during the 1st quarter worth about $166,000. 72.96% of the stock is owned by institutional investors.
WEC has been the topic of several recent analyst reports. Guggenheim restated a “buy” rating and set a $66.00 price objective on shares of WEC Energy Group in a report on Friday, February 23rd. Bank of America upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Friday, June 1st. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, April 23rd. ValuEngine upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Credit Suisse Group boosted their price objective on WEC Energy Group from $65.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.13.
In other news, Director Ulice Payne, Jr. sold 1,600 shares of the company’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $64.45, for a total value of $103,120.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.
Shares of WEC Energy Group opened at $61.86 on Thursday, according to Marketbeat.com. The stock has a market capitalization of $19.49 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 4.53 and a beta of 0.08. WEC Energy Group Inc has a fifty-two week low of $58.48 and a fifty-two week high of $70.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.45 and a current ratio of 0.55.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, May 1st. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.33 billion. WEC Energy Group had a return on equity of 11.01% and a net margin of 16.23%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. sell-side analysts expect that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were issued a $0.5525 dividend. The ex-dividend date was Friday, May 11th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.57%. WEC Energy Group’s dividend payout ratio is 70.38%.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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