Mount Yale Investment Advisors LLC acquired a new position in WEC Energy Group Inc (NYSE:WEC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,501 shares of the utilities provider’s stock, valued at approximately $282,000.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in WEC Energy Group by 1.5% in the first quarter. BlackRock Inc. now owns 27,220,620 shares of the utilities provider’s stock worth $1,706,733,000 after purchasing an additional 412,950 shares during the period. Wells Fargo & Company MN lifted its holdings in WEC Energy Group by 0.6% in the first quarter. Wells Fargo & Company MN now owns 7,383,689 shares of the utilities provider’s stock worth $462,959,000 after purchasing an additional 44,534 shares during the period. Epoch Investment Partners Inc. lifted its holdings in WEC Energy Group by 4.7% in the first quarter. Epoch Investment Partners Inc. now owns 4,107,047 shares of the utilities provider’s stock worth $257,512,000 after purchasing an additional 183,711 shares during the period. Geode Capital Management LLC lifted its holdings in WEC Energy Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 3,448,049 shares of the utilities provider’s stock worth $228,591,000 after purchasing an additional 86,161 shares during the period. Finally, Renaissance Technologies LLC raised its position in WEC Energy Group by 33.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,784,802 shares of the utilities provider’s stock worth $184,994,000 after acquiring an additional 700,200 shares in the last quarter. 72.96% of the stock is owned by institutional investors and hedge funds.
Shares of WEC Energy Group opened at $64.65 on Friday, Marketbeat Ratings reports. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 0.89. WEC Energy Group Inc has a 52 week low of $58.48 and a 52 week high of $70.09. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 4.69 and a beta of 0.08.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.33 billion. WEC Energy Group had a return on equity of 11.01% and a net margin of 16.23%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. analysts predict that WEC Energy Group Inc will post 3.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Monday, May 14th were issued a dividend of $0.5525 per share. The ex-dividend date was Friday, May 11th. This represents a $2.21 annualized dividend and a yield of 3.42%. WEC Energy Group’s payout ratio is presently 70.38%.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 17th. Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Friday, June 1st. Credit Suisse Group boosted their price target on shares of WEC Energy Group from $65.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. ValuEngine upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Finally, Citigroup assumed coverage on shares of WEC Energy Group in a research report on Friday, April 13th. They issued a “neutral” rating and a $61.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.29.
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,600 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $64.45, for a total transaction of $103,120.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.97% of the stock is currently owned by insiders.
WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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