iSAM Funds UK Ltd Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

iSAM Funds UK Ltd acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,928 shares of the utilities provider’s stock, valued at approximately $1,310,000. WEC Energy Group comprises about 1.0% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Vident Advisory LLC increased its position in WEC Energy Group by 3.7% in the 4th quarter. Vident Advisory LLC now owns 20,946 shares of the utilities provider’s stock valued at $1,970,000 after buying an additional 750 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of WEC Energy Group during the fourth quarter valued at about $13,767,000. Two Sigma Investments LP boosted its stake in shares of WEC Energy Group by 992.1% in the 4th quarter. Two Sigma Investments LP now owns 384,419 shares of the utilities provider’s stock worth $36,151,000 after buying an additional 349,219 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of WEC Energy Group by 13.8% in the fourth quarter. Tidal Investments LLC now owns 5,040 shares of the utilities provider’s stock valued at $474,000 after acquiring an additional 612 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in WEC Energy Group during the fourth quarter worth $672,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

Shares of WEC stock opened at $107.28 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a market cap of $34.24 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.60 and a beta of 0.46. The business’s fifty day moving average is $106.97 and its 200 day moving average is $101.83. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm posted $1.97 earnings per share. WEC Energy Group’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.35%. WEC Energy Group’s payout ratio is 69.59%.

Analyst Ratings Changes

Several brokerages recently weighed in on WEC. Barclays lifted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $107.13.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

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.