Nissay Asset Management Corp Japan ADV increased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,091 shares of the utilities provider’s stock after buying an additional 935 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in WEC Energy Group were worth $3,478,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC raised its position in shares of WEC Energy Group by 100.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock valued at $102,000 after buying an additional 800 shares during the period. Braun Bostich & Associates Inc. raised its position in shares of WEC Energy Group by 1,300.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after buying an additional 1,638 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $141,000. Bridgeworth LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $156,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $164,000. 73.49% of the stock is currently owned by hedge funds and other institutional investors.
WEC has been the topic of several analyst reports. ValuEngine raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday, October 17th. Barclays initiated coverage on shares of WEC Energy Group in a research report on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 price target on the stock. Citigroup lifted their price target on shares of WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, July 10th. Finally, Deutsche Bank lifted their price target on shares of WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.27.
Shares of NYSE WEC opened at $67.00 on Friday. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 4.78 and a beta of 0.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59. WEC Energy Group Inc has a 52-week low of $58.48 and a 52-week high of $72.09.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.66 billion. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. Analysts predict that WEC Energy Group Inc will post 3.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 14th will be given a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Tuesday, November 13th. WEC Energy Group’s payout ratio is 70.38%.
In other WEC Energy Group news, Director Barbara L. Bowles sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $66.45, for a total value of $166,125.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frederick D. Kuester sold 168,790 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $66.94, for a total value of $11,298,802.60. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
About WEC Energy Group
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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