Employees Retirement System of Texas raised its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 103.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,000 shares of the utilities provider’s stock after buying an additional 200,000 shares during the quarter. Employees Retirement System of Texas owned about 0.12% of WEC Energy Group worth $34,678,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of WEC Energy Group in the 1st quarter valued at $64,000. Raymond James Trust N.A. boosted its stake in WEC Energy Group by 19.9% in the first quarter. Raymond James Trust N.A. now owns 6,272 shares of the utilities provider’s stock valued at $626,000 after buying an additional 1,040 shares in the last quarter. Dimensional Fund Advisors LP grew its position in WEC Energy Group by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 848,405 shares of the utilities provider’s stock valued at $84,682,000 after acquiring an additional 65,287 shares during the last quarter. Allianz Asset Management GmbH raised its stake in WEC Energy Group by 10.2% during the first quarter. Allianz Asset Management GmbH now owns 34,679 shares of the utilities provider’s stock worth $3,461,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of WEC Energy Group by 11.8% in the first quarter. Cetera Investment Advisers now owns 8,765 shares of the utilities provider’s stock worth $875,000 after acquiring an additional 923 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Guggenheim dropped their price target on WEC Energy Group from $94.00 to $84.00 in a research note on Monday, October 9th. Mizuho decreased their price target on WEC Energy Group from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays reduced their target price on WEC Energy Group from $83.00 to $81.00 and set an “underweight” rating on the stock in a report on Tuesday, October 24th. KeyCorp lowered their price target on shares of WEC Energy Group from $102.00 to $94.00 and set an “overweight” rating for the company in a report on Thursday, October 5th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of WEC Energy Group in a research note on Monday, September 11th. They issued a “neutral” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.17.
WEC Energy Group Stock Down 0.8 %
Shares of NYSE:WEC traded down $0.62 during trading on Tuesday, reaching $80.70. 248,148 shares of the stock were exchanged, compared to its average volume of 1,457,150. WEC Energy Group, Inc. has a 1-year low of $75.47 and a 1-year high of $101.11. The stock has a fifty day moving average of $82.36 and a two-hundred day moving average of $86.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.42. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.43.
WEC Energy Group (NYSE:WEC – Get Free Report) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a net margin of 14.80% and a return on equity of 11.48%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share. Research analysts anticipate that WEC Energy Group, Inc. will post 4.61 earnings per share for the current fiscal year.
WEC Energy Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Monday, November 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.06%.
WEC Energy Group Company Profile
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.
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