Sumitomo Mitsui Asset Management Company LTD raised its stake in WEC Energy Group Inc (NYSE:WEC) by 3.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 51,626 shares of the utilities provider’s stock after buying an additional 1,792 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in WEC Energy Group were worth $4,082,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Blue Sky Asset Management LLC bought a new stake in shares of WEC Energy Group during the first quarter valued at about $25,000. We Are One Seven LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $30,000. Essex Investment Management Co. LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $30,000. ERTS Wealth Advisors LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $30,000. Finally, Arbor Wealth Management LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $32,000. Institutional investors own 74.95% of the company’s stock.
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 Saturday, February 9th. Credit Suisse Group boosted their price target on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $71.00 to $70.00 in a research report on Monday, April 8th. Argus boosted their price target on shares of WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Wolfe Research set a $77.00 price target on shares of WEC Energy Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.33.
In related news, Director Allen L. Leverett sold 5,781 shares of WEC Energy Group stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $74.79, for a total value of $432,360.99. Following the transaction, the director now owns 39,339 shares of the company’s stock, valued at approximately $2,942,163.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William J. Guc sold 4,481 shares of WEC Energy Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $78.10, for a total value of $349,966.10. The disclosure for this sale can be found here. Insiders sold a total of 350,899 shares of company stock worth $26,491,087 in the last three months. 0.75% of the stock is currently owned by company insiders.
WEC traded up $0.52 during trading on Friday, reaching $80.77. The company had a trading volume of 33,818 shares, compared to its average volume of 1,700,193. The stock has a market capitalization of $25.31 billion, a P/E ratio of 24.16, a P/E/G ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a 12-month low of $58.48 and a 12-month high of $80.44. The company has a current ratio of 0.67, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.41 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. WEC Energy Group’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. On average, research analysts predict that WEC Energy Group Inc will post 3.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a $0.59 dividend. The ex-dividend date is Monday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 2.92%. WEC Energy Group’s dividend payout ratio is currently 70.66%.
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WEC Energy Group Company 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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