Welch & Forbes LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,648 shares of the utilities provider’s stock, valued at approximately $1,174,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of WEC. John Boyer Inc. acquired a new position in shares of WEC Energy Group in the third quarter valued at about $25,000. Compass Financial Management LLC bought a new position in WEC Energy Group during the second quarter worth about $29,000. Silvant Capital Management LLC acquired a new stake in WEC Energy Group in the 2nd quarter worth about $34,000. Paladin Partners LLC acquired a new stake in WEC Energy Group in the 2nd quarter worth about $34,000. Finally, Addison Advisors LLC acquired a new stake in WEC Energy Group in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 77.20% of the company’s stock.
WEC Energy Group Stock Down 0.2%
Shares of NYSE WEC opened at $116.93 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.36 and a current ratio of 0.53. WEC Energy Group, Inc. has a 52 week low of $99.80 and a 52 week high of $120.15. The stock has a market capitalization of $38.47 billion, a P/E ratio of 21.22, a PEG ratio of 2.41 and a beta of 0.43. The stock’s fifty day moving average is $107.29 and its 200 day moving average is $111.74.
WEC Energy Group (NYSE:WEC – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. WEC Energy Group had a return on equity of 13.49% and a net margin of 17.54%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. WEC Energy Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.61 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 13th. WEC Energy Group’s dividend payout ratio (DPR) is currently 69.15%.
Wall Street Analyst Weigh In
WEC has been the topic of a number of analyst reports. Scotiabank increased their target price on shares of WEC Energy Group from $117.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 30th. Royal Bank Of Canada lowered their target price on shares of WEC Energy Group from $124.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, October 26th. BTIG Research reiterated a “buy” rating and issued a $130.00 price target on shares of WEC Energy Group in a research report on Friday, October 30th. Wall Street Zen upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, HSBC initiated coverage on WEC Energy Group in a research note on Thursday, October 22nd. They issued a “hold” rating and a $106.50 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus price target of $117.88.
Get Our Latest Stock Analysis on WEC
About WEC Energy Group
WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers. The company’s utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services. WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.
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