WEC Energy Group, Inc. $WEC Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,493 shares of the utilities provider’s stock after acquiring an additional 664 shares during the period. Wedbush Securities Inc.’s holdings in WEC Energy Group were worth $1,719,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Axxcess Wealth Management LLC boosted its holdings in shares of WEC Energy Group by 34.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,356 shares of the utilities provider’s stock valued at $911,000 after purchasing an additional 2,121 shares during the last quarter. MJP Associates Inc. ADV increased its holdings in shares of WEC Energy Group by 3.5% during the 1st quarter. MJP Associates Inc. ADV now owns 3,126 shares of the utilities provider’s stock worth $341,000 after buying an additional 107 shares during the last quarter. State of Michigan Retirement System raised its position in shares of WEC Energy Group by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 86,184 shares of the utilities provider’s stock worth $9,392,000 after buying an additional 300 shares during the period. Xponance Inc. boosted its holdings in WEC Energy Group by 1.3% in the first quarter. Xponance Inc. now owns 42,882 shares of the utilities provider’s stock valued at $4,673,000 after acquiring an additional 556 shares during the last quarter. Finally, SkyOak Wealth LLC acquired a new position in WEC Energy Group in the first quarter valued at $354,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $112.85 on Friday. The firm has a market capitalization of $36.71 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $118.18. The stock’s 50 day moving average price is $112.39 and its 200 day moving average price is $108.80. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The company had revenue of $2.28 billion during the quarter. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a dividend of $0.8925 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group’s payout ratio is 67.49%.

Analyst Ratings Changes

Several brokerages have commented on WEC. TD Cowen assumed coverage on WEC Energy Group in a research note on Thursday, October 16th. They set a “hold” rating and a $125.00 price target for the company. Mizuho set a $125.00 target price on shares of WEC Energy Group in a research report on Monday, October 27th. Cowen started coverage on shares of WEC Energy Group in a report on Wednesday, October 15th. They issued a “hold” rating on the stock. Wall Street Zen cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Royal Bank Of Canada set a $131.00 price objective on shares of WEC Energy Group in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, WEC Energy Group has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.

About WEC Energy Group

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.