Mirae Asset Global Investments Co. Ltd. Purchases 32,489 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of WEC Energy Group, Inc. (NYSE:WECGet Rating) by 60.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,480 shares of the utilities provider’s stock after buying an additional 32,489 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in WEC Energy Group were worth $8,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Buckingham Strategic Wealth LLC lifted its holdings in shares of WEC Energy Group by 12.9% during the 1st quarter. Buckingham Strategic Wealth LLC now owns 2,410 shares of the utilities provider’s stock valued at $241,000 after buying an additional 275 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of WEC Energy Group by 23.2% during the 1st quarter. MetLife Investment Management LLC now owns 85,828 shares of the utilities provider’s stock valued at $8,566,000 after buying an additional 16,136 shares during the period. Bartlett & Co. LLC lifted its holdings in shares of WEC Energy Group by 0.4% during the 4th quarter. Bartlett & Co. LLC now owns 101,707 shares of the utilities provider’s stock valued at $9,873,000 after buying an additional 416 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of WEC Energy Group by 32.3% during the 1st quarter. First Horizon Advisors Inc. now owns 705 shares of the utilities provider’s stock valued at $70,000 after buying an additional 172 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in WEC Energy Group in the 1st quarter worth $521,000. 75.03% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 1.3 %

Shares of WEC Energy Group stock opened at $100.96 on Wednesday. The firm has a market cap of $31.85 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.83 and a beta of 0.28. The business has a 50-day moving average price of $103.37 and a 200-day moving average price of $101.24. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 1.18. WEC Energy Group, Inc. has a twelve month low of $86.84 and a twelve month high of $108.39.

WEC Energy Group (NYSE:WECGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.76 billion. WEC Energy Group had a return on equity of 12.15% and a net margin of 15.23%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share. Equities research analysts anticipate that WEC Energy Group, Inc. will post 4.39 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a dividend of $0.7275 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.88%. WEC Energy Group’s payout ratio is 67.21%.

Insider Activity

In other news, EVP William Mastoris sold 4,690 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $105.04, for a total transaction of $492,637.60. Following the completion of the transaction, the executive vice president now owns 2,506 shares in the company, valued at $263,230.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WEC shares. Barclays decreased their target price on WEC Energy Group from $108.00 to $104.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Mizuho decreased their target price on WEC Energy Group from $107.00 to $93.00 and set a “neutral” rating on the stock in a report on Friday, June 17th. Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $108.00 to $98.00 in a report on Wednesday, July 20th. Finally, Wells Fargo & Company raised their target price on WEC Energy Group from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $102.33.

WEC Energy Group Company Profile

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WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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.

Further Reading

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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