E Fund Management Co. Ltd. Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

E Fund Management Co. Ltd. bought a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 554 shares of the utilities provider’s stock, valued at approximately $52,000.

Other large investors also recently added to or reduced their stakes in the company. Phoenix Wealth Advisors acquired a new position in WEC Energy Group in the fourth quarter valued at about $25,000. Certified Advisory Corp acquired a new position in WEC Energy Group in the first quarter valued at about $25,000. Graves Light Private Wealth Management Inc. acquired a new position in WEC Energy Group in the fourth quarter valued at about $26,000. tru Independence LLC raised its position in shares of WEC Energy Group by 422.0% during the fourth quarter. tru Independence LLC now owns 308 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 249 shares during the period. Finally, Cowa LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter worth about $29,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

In other WEC Energy Group news, CEO Charles R. Matthews sold 10,580 shares of the company’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $98.61, for a total value of $1,043,293.80. Following the sale, the chief executive officer now owns 12,786 shares in the company, valued at approximately $1,260,827.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 2,400 shares of the company’s stock in a transaction dated Thursday, May 13th. The shares were sold at an average price of $96.43, for a total value of $231,432.00. The disclosure for this sale can be found here. Insiders have purchased a total of 25 shares of company stock worth $2,381 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on WEC shares. Barclays raised their price target on WEC Energy Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 25th. Wells Fargo & Company raised WEC Energy Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $94.00 to $93.00 in a research report on Thursday, March 4th. Finally, Mizuho started coverage on WEC Energy Group in a research report on Wednesday, April 14th. They set a “neutral” rating and a $94.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. WEC Energy Group has a consensus rating of “Buy” and an average price target of $97.88.

Shares of WEC opened at $93.13 on Friday. WEC Energy Group, Inc. has a 52-week low of $80.55 and a 52-week high of $106.85. The firm has a fifty day simple moving average of $95.15. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.63. The company has a market cap of $29.38 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 3.95 and a beta of 0.18.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Sunday, May 2nd. The utilities provider reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.14. WEC Energy Group had a return on equity of 11.83% and a net margin of 16.08%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the company posted $1.43 EPS. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.03 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 14th were given a dividend of $0.6775 per share. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $2.71 dividend on an annualized basis and a yield of 2.91%. WEC Energy Group’s dividend payout ratio is currently 71.50%.

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. 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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