Marshall Wace LLP Sells 29,855 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Posted by Defense World Staff on Mar 13th, 2023

Marshall Wace LLP trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 29.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,364 shares of the utilities provider’s stock after selling 29,855 shares during the period. Marshall Wace LLP’s holdings in WEC Energy Group were worth $6,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. City State Bank raised its position in shares of WEC Energy Group by 1.5% during the 2nd quarter. City State Bank now owns 6,585 shares of the utilities provider’s stock valued at $663,000 after purchasing an additional 100 shares during the period. Regal Investment Advisors LLC raised its position in shares of WEC Energy Group by 3.5% during the 2nd quarter. Regal Investment Advisors LLC now owns 3,335 shares of the utilities provider’s stock valued at $336,000 after purchasing an additional 114 shares during the period. Allworth Financial LP raised its position in shares of WEC Energy Group by 1.1% during the 3rd quarter. Allworth Financial LP now owns 10,388 shares of the utilities provider’s stock valued at $929,000 after purchasing an additional 117 shares during the period. Lcnb Corp raised its position in shares of WEC Energy Group by 5.3% during the 2nd quarter. Lcnb Corp now owns 2,393 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 120 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC raised its position in shares of WEC Energy Group by 1.2% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 10,159 shares of the utilities provider’s stock valued at $909,000 after purchasing an additional 121 shares during the period. 74.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on WEC. Wells Fargo & Company cut their target price on shares of WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. TheStreet raised shares of WEC Energy Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 13th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $93.00 to $100.00 in a research note on Monday, December 5th. Finally, UBS Group raised their target price on shares of WEC Energy Group to $103.00 in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.78.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $87.57 on Monday. WEC Energy Group, Inc. has a 52 week low of $80.82 and a 52 week high of $108.39. The stock has a market capitalization of $27.62 billion, a P/E ratio of 19.63, a PEG ratio of 3.26 and a beta of 0.38. The firm has a fifty day simple moving average of $92.51 and a two-hundred day simple moving average of $94.26. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.27.

WEC Energy Group (NYSE:WEC – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The utilities provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.01 billion. WEC Energy Group had a net margin of 14.68% and a return on equity of 12.24%. The business’s revenue was up 16.2% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, analysts expect that WEC Energy Group, Inc. will post 4.6 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 14th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Monday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.73. WEC Energy Group’s dividend payout ratio (DPR) is 69.96%.

WEC Energy Group Company Profile

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WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.