Flagship Harbor Advisors LLC lifted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,484 shares of the utilities provider’s stock after buying an additional 143 shares during the period. Flagship Harbor Advisors LLC’s holdings in WEC Energy Group were worth $207,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Blue Sky Asset Management LLC purchased a new position in WEC Energy Group in the 1st quarter valued at approximately $25,000. Weaver Consulting Group acquired a new stake in WEC Energy Group during the 1st quarter valued at $25,000. CNB Bank boosted its holdings in shares of WEC Energy Group by 253.8% during the first quarter. CNB Bank now owns 566 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 406 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth $59,000. Finally, JJJ Advisors Inc. acquired a new stake in shares of WEC Energy Group during the first quarter worth $60,000. 76.29% of the stock is owned by institutional investors and hedge funds.
WEC has been the topic of several analyst reports. Bank of America cut WEC Energy Group from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $82.00 to $85.00 in a report on Monday, June 24th. KeyCorp initiated coverage on WEC Energy Group in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Scotiabank cut WEC Energy Group from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $78.00 in a report on Wednesday, May 8th. Finally, Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $84.00 to $85.00 in a report on Tuesday, August 6th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $76.75.
NYSE:WEC traded down $0.55 during mid-day trading on Friday, hitting $92.59. The company had a trading volume of 2,593,482 shares, compared to its average volume of 1,857,259. WEC Energy Group Inc has a 1 year low of $64.96 and a 1 year high of $93.96. The firm has a market capitalization of $29.38 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 4.48 and a beta of 0.11. The business has a fifty day simple moving average of $87.69 and a 200-day simple moving average of $81.18. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $0.73 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, research analysts anticipate 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 Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.
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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