BlackRock Inc. boosted its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,220,620 shares of the utilities provider’s stock after purchasing an additional 412,950 shares during the quarter. BlackRock Inc. owned about 8.63% of WEC Energy Group worth $1,706,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Dean Investment Associates LLC boosted its position in WEC Energy Group by 7.9% during the first quarter. Dean Investment Associates LLC now owns 93,105 shares of the utilities provider’s stock valued at $5,838,000 after purchasing an additional 6,800 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in WEC Energy Group during the first quarter valued at about $18,569,000. Silvant Capital Management LLC bought a new stake in WEC Energy Group during the first quarter valued at about $185,000. Cambridge Investment Research Advisors Inc. boosted its position in WEC Energy Group by 5.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,016 shares of the utilities provider’s stock valued at $2,822,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Forsta AP Fonden boosted its position in WEC Energy Group by 597.3% during the first quarter. Forsta AP Fonden now owns 280,062 shares of the utilities provider’s stock valued at $17,560,000 after purchasing an additional 239,900 shares in the last quarter. 72.88% of the stock is currently owned by institutional investors.
In other news, Director Ulice Payne, Jr. sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $64.45, for a total value of $103,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.97% of the company’s stock.
A number of equities research analysts have commented on WEC shares. Zacks Investment Research cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 7th. Credit Suisse Group increased their price target on WEC Energy Group from $65.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd. Guggenheim reiterated a “buy” rating and issued a $66.00 price target on shares of WEC Energy Group in a research note on Friday, February 23rd. Citigroup started coverage on WEC Energy Group in a research note on Friday, April 13th. They issued a “neutral” rating and a $61.00 price target for the company. Finally, Wells Fargo & Co decreased their price target on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $66.00.
WEC Energy Group opened at $62.15 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.55 and a quick ratio of 0.45. WEC Energy Group Inc has a one year low of $58.92 and a one year high of $70.09. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 4.43 and a beta of 0.06.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. WEC Energy Group had a return on equity of 11.01% and a net margin of 16.23%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. equities analysts predict that WEC Energy Group Inc will post 3.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 14th will be paid a $0.5525 dividend. This represents a $2.21 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, May 11th. WEC Energy Group’s payout ratio is 70.38%.
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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