Buckley Wealth Management LLC Has $755,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Buckley Wealth Management LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 76.7% in the 2nd quarter, Holdings Channel reports. The firm owned 8,553 shares of the utilities provider’s stock after purchasing an additional 3,713 shares during the quarter. Buckley Wealth Management LLC’s holdings in WEC Energy Group were worth $755,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WEC. Caisse DE Depot ET Placement DU Quebec acquired a new stake in WEC Energy Group during the 4th quarter worth about $132,755,000. Renaissance Technologies LLC grew its holdings in WEC Energy Group by 563.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock worth $131,757,000 after acquiring an additional 1,121,075 shares during the period. Bessemer Group Inc. grew its holdings in WEC Energy Group by 16,625.5% during the 4th quarter. Bessemer Group Inc. now owns 1,010,552 shares of the utilities provider’s stock worth $94,749,000 after acquiring an additional 1,004,510 shares during the period. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 10.8% during the 4th quarter. JPMorgan Chase & Co. now owns 6,038,533 shares of the utilities provider’s stock worth $566,172,000 after acquiring an additional 590,838 shares during the period. Finally, Bank of America Corp DE grew its holdings in WEC Energy Group by 8.4% during the 1st quarter. Bank of America Corp DE now owns 6,276,059 shares of the utilities provider’s stock worth $594,908,000 after acquiring an additional 487,972 shares during the period. 75.75% of the stock is owned by institutional investors.

WEC Energy Group Stock Up 0.6 %

NYSE WEC traded up $0.54 during trading hours on Monday, hitting $86.80. The company’s stock had a trading volume of 268,680 shares, compared to its average volume of 1,334,240. WEC Energy Group, Inc. has a 52 week low of $80.82 and a 52 week high of $102.49. The company has a market capitalization of $27.38 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 3.27 and a beta of 0.41. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30. The company’s 50-day simple moving average is $87.18 and its two-hundred day simple moving average is $90.36.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. WEC Energy Group had a net margin of 14.57% and a return on equity of 11.48%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. Research analysts anticipate that WEC Energy Group, Inc. will post 4.61 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $3.12 annualized dividend and a dividend yield of 3.59%. WEC Energy Group’s dividend payout ratio is currently 72.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WEC. Evercore ISI reduced their target price on WEC Energy Group from $98.00 to $91.00 in a research note on Friday, June 9th. Guggenheim reduced their target price on WEC Energy Group from $99.00 to $94.00 in a research note on Friday, July 7th. Barclays began coverage on WEC Energy Group in a research note on Wednesday, August 23rd. They issued an “underweight” rating and a $83.00 target price for the company. 888 restated a “reiterates” rating on shares of WEC Energy Group in a research note on Friday, June 30th. Finally, Wells Fargo & Company reduced their target price on WEC Energy Group from $106.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.83.

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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.