Titleist Asset Management LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,290 shares of the utilities provider’s stock, valued at approximately $501,000.
Several other large investors have also recently made changes to their positions in the business. Advisors Capital Management LLC raised its position in shares of WEC Energy Group by 2.3% in the 3rd quarter. Advisors Capital Management LLC now owns 4,799 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 108 shares during the last quarter. MGO One Seven LLC raised its holdings in WEC Energy Group by 1.6% in the first quarter. MGO One Seven LLC now owns 7,111 shares of the utilities provider’s stock worth $674,000 after buying an additional 110 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its stake in shares of WEC Energy Group by 12.1% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,059 shares of the utilities provider’s stock worth $99,000 after buying an additional 114 shares in the last quarter. NewEdge Wealth LLC grew its holdings in shares of WEC Energy Group by 1.7% during the first quarter. NewEdge Wealth LLC now owns 7,117 shares of the utilities provider’s stock valued at $675,000 after buying an additional 118 shares during the last quarter. Finally, Drake & Associates LLC increased its position in shares of WEC Energy Group by 2.0% during the first quarter. Drake & Associates LLC now owns 6,092 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 121 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
WEC has been the topic of several recent analyst reports. 888 reiterated a “reiterates” rating on shares of WEC Energy Group in a research note on Friday, June 30th. Guggenheim reduced their price objective on WEC Energy Group from $99.00 to $94.00 in a report on Friday, July 7th. Evercore ISI lowered their target price on shares of WEC Energy Group from $98.00 to $91.00 in a research note on Friday, June 9th. BMO Capital Markets reduced their price target on shares of WEC Energy Group from $98.00 to $95.00 and set a “market perform” rating for the company in a research note on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of WEC Energy Group from $98.00 to $99.00 and gave the company a “neutral” rating in a research report on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, WEC Energy Group presently has an average rating of “Hold” and a consensus price target of $95.83.
WEC Energy Group Trading Up 1.5 %
Shares of WEC stock opened at $85.71 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.45. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 3.15 and a beta of 0.41. WEC Energy Group, Inc. has a 1 year low of $80.82 and a 1 year high of $105.43. The firm has a fifty day moving average price of $87.29 and a 200-day moving average price of $90.37.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.57%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. WEC Energy Group’s revenue for the quarter was down 14.0% on a year-over-year basis. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.61 earnings per share for the current year.
WEC Energy Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Friday, August 11th. WEC Energy Group’s payout ratio is 72.73%.
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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