Janney Montgomery Scott LLC boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,519 shares of the utilities provider’s stock after purchasing an additional 1,355 shares during the period. Janney Montgomery Scott LLC’s holdings in WEC Energy Group were worth $6,116,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in WEC. Fairfield Bush & CO. bought a new stake in WEC Energy Group in the first quarter worth $64,000. Raymond James Trust N.A. increased its position in shares of WEC Energy Group by 19.9% in the first quarter. Raymond James Trust N.A. now owns 6,272 shares of the utilities provider’s stock valued at $626,000 after acquiring an additional 1,040 shares during the period. Dimensional Fund Advisors LP increased its position in shares of WEC Energy Group by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 848,405 shares of the utilities provider’s stock valued at $84,682,000 after acquiring an additional 65,287 shares during the period. Allianz Asset Management GmbH increased its position in shares of WEC Energy Group by 10.2% in the first quarter. Allianz Asset Management GmbH now owns 34,679 shares of the utilities provider’s stock valued at $3,461,000 after acquiring an additional 3,224 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of WEC Energy Group by 11.8% in the first quarter. Cetera Investment Advisers now owns 8,765 shares of the utilities provider’s stock valued at $875,000 after acquiring an additional 923 shares during the period. 74.68% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on WEC. 888 restated a “reiterates” rating on shares of WEC Energy Group in a research report on Friday, June 30th. Evercore ISI decreased their price objective on shares of WEC Energy Group from $98.00 to $91.00 in a research report on Friday, June 9th. Bank of America decreased their price objective on shares of WEC Energy Group from $106.00 to $103.00 in a research report on Wednesday, May 3rd. BMO Capital Markets decreased their price objective on shares of WEC Energy Group from $100.00 to $96.00 and set a “market perform” rating on the stock in a research report on Friday, July 14th. Finally, KeyCorp reduced their price target on shares of WEC Energy Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average target price of $99.10.
Insider Transactions at WEC Energy Group
WEC Energy Group Price Performance
Shares of WEC opened at $92.37 on Friday. The stock has a market cap of $29.14 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.75. WEC Energy Group, Inc. has a fifty-two week low of $80.82 and a fifty-two week high of $108.20. The firm’s 50-day simple moving average is $89.30 and its two-hundred day simple moving average is $92.24.
WEC Energy Group (NYSE:WEC – Get Free Report) last announced its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.90 billion. WEC Energy Group had a net margin of 14.10% and a return on equity of 11.60%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.79 earnings per share. Analysts anticipate that WEC Energy Group, Inc. will post 4.6 earnings per share for the current fiscal year.
WEC Energy Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, August 11th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.90%.
WEC Energy Group 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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