Synergy Asset Management LLC Trims Stake in WEC Energy Group, Inc. (NYSE:WEC)

Synergy Asset Management LLC lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 15.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 33,605 shares of the utilities provider’s stock after selling 6,269 shares during the period. Synergy Asset Management LLC’s holdings in WEC Energy Group were worth $2,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the 1st quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new stake in WEC Energy Group in the 4th quarter worth $26,000. Valued Wealth Advisors LLC bought a new stake in WEC Energy Group during the fourth quarter valued at about $28,000. Finally, First United Bank & Trust bought a new stake in WEC Energy Group during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on WEC shares. BMO Capital Markets increased their target price on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. KeyCorp lifted their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Scotiabank dropped their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group Trading Up 0.3 %

Shares of NYSE WEC traded up $0.23 during trading hours on Tuesday, hitting $77.92. 464,776 shares of the company traded hands, compared to its average volume of 2,137,177. The stock has a market capitalization of $24.61 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.41. The company’s 50 day moving average price is $81.42 and its 200 day moving average price is $81.03. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $93.37. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.