Duality Advisers LP Raises Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Duality Advisers LP increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 69.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 54,659 shares of the utilities provider’s stock after buying an additional 22,478 shares during the quarter. Duality Advisers LP’s holdings in WEC Energy Group were worth $4,489,000 at the end of the most recent reporting period.

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

WEC Energy Group Stock Up 0.9 %

Shares of NYSE WEC traded up $0.75 during trading on Friday, reaching $81.09. The company had a trading volume of 938,699 shares, compared to its average volume of 2,104,951. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37. The stock has a market cap of $25.61 billion, a PE ratio of 17.54, a P/E/G ratio of 2.02 and a beta of 0.41. The business’s 50-day moving average is $80.65 and its 200 day moving average is $80.77. 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 released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm posted $1.61 earnings per share. WEC Energy Group’s revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were given a dividend of $0.835 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.12%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotiabank lowered their price objective on 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 assumed coverage on WEC Energy Group in a report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp upped their price target on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets upped their price target on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.92.

About WEC Energy Group

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.