WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,591 shares of the utilities provider’s stock after buying an additional 384 shares during the period. Mission Wealth Management LP’s holdings in WEC Energy Group were worth $459,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WEC. Opal Wealth Advisors LLC bought a new position in WEC Energy Group in the 1st quarter worth $25,000. Northwest Bank & Trust Co acquired a new position in WEC Energy Group during the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners bought a new stake in WEC Energy Group during the fourth quarter worth $26,000. Valued Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the fourth quarter valued at about $28,000. Finally, First United Bank & Trust bought a new position in WEC Energy Group during the fourth quarter worth about $30,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded up $0.17 during trading on Friday, hitting $77.85. The stock had a trading volume of 1,946,150 shares, compared to its average volume of 1,690,011. The stock has a market capitalization of $24.59 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.41. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37. The stock has a 50-day simple moving average of $80.98 and a two-hundred day simple moving average of $80.88. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

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

WEC Energy Group Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.29%. WEC Energy Group’s payout ratio is 72.93%.

Wall Street Analyst Weigh In

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

WEC Energy Group 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.