Creative Planning lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,634 shares of the utilities provider’s stock after buying an additional 5,433 shares during the quarter. Creative Planning’s holdings in WEC Energy Group were worth $4,909,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Alta Capital Management LLC increased its holdings in WEC Energy Group by 1.3% during the 2nd quarter. Alta Capital Management LLC now owns 26,171 shares of the utilities provider’s stock worth $2,309,000 after purchasing an additional 324 shares during the last quarter. Baker Tilly Wealth Management LLC increased its holdings in WEC Energy Group by 5.3% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 4,539 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 228 shares during the last quarter. International Assets Investment Management LLC increased its holdings in WEC Energy Group by 8.4% during the 2nd quarter. International Assets Investment Management LLC now owns 2,824 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 220 shares during the last quarter. Global Retirement Partners LLC increased its holdings in WEC Energy Group by 56.9% during the 2nd quarter. Global Retirement Partners LLC now owns 12,316 shares of the utilities provider’s stock worth $1,087,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Blossom Wealth Management increased its holdings in WEC Energy Group by 56.6% during the 2nd quarter. Blossom Wealth Management now owns 3,665 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 1,324 shares during 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 research reports. Wells Fargo & Company dropped their price target on WEC Energy Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. StockNews.com initiated coverage on WEC Energy Group in a research report on Thursday. They set a “sell” rating on the stock. Royal Bank of Canada initiated coverage on WEC Energy Group in a research report on Wednesday, September 27th. They set a “sector perform” rating and a $95.00 price target on the stock. BMO Capital Markets dropped their price target on WEC Energy Group from $98.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 2nd. Finally, Mizuho reissued a “buy” rating and set a $98.00 price target on shares of WEC Energy Group in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.38.
WEC Energy Group Price Performance
Shares of WEC opened at $80.63 on Monday. WEC Energy Group, Inc. has a 12 month low of $75.47 and a 12 month high of $101.11. The company has a market cap of $25.43 billion, a P/E ratio of 18.79, a PEG ratio of 3.04 and a beta of 0.41. The stock has a fifty day moving average price of $84.65 and a 200 day moving average price of $89.43. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.45.
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, topping 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 company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. On average, research analysts forecast 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. Investors of record on Monday, August 14th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $3.12 annualized dividend and a yield of 3.87%. WEC Energy Group’s dividend payout ratio is currently 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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