Penserra Capital Management LLC acquired a new position in shares of WEC Energy Group Inc (NYSE:WEC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,928 shares of the utilities provider’s stock, valued at approximately $1,797,000.
Several other institutional investors and hedge funds also recently modified their holdings of WEC. St. Johns Investment Management Company LLC grew its stake in WEC Energy Group by 100.0% during the second quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 800 shares during the period. Braun Bostich & Associates Inc. grew its stake in WEC Energy Group by 1,300.0% during the second quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 1,638 shares during the period. Centaurus Financial Inc. acquired a new stake in WEC Energy Group during the second quarter worth approximately $141,000. Bridgeworth LLC acquired a new stake in WEC Energy Group in the second quarter valued at approximately $156,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in WEC Energy Group in the second quarter valued at approximately $164,000. Institutional investors own 73.55% of the company’s stock.
A number of equities research analysts have commented on the company. ValuEngine raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Credit Suisse Group raised their price objective on WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Goldman Sachs Group raised WEC Energy Group from a “sell” rating to a “neutral” rating in a research note on Thursday, July 19th. Citigroup set a $66.00 price objective on WEC Energy Group and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $70.27.
Shares of WEC Energy Group stock opened at $70.00 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. WEC Energy Group Inc has a 52 week low of $58.48 and a 52 week high of $72.09. The company has a market capitalization of $21.70 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 4.71 and a beta of -0.03.
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 the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.66 billion. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.82%. WEC Energy Group’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, research analysts predict that WEC Energy Group Inc will post 3.33 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 14th will be given a dividend of $0.5525 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.16%. WEC Energy Group’s payout ratio is 70.38%.
WEC Energy Group Company 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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