WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 133.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,556 shares of the utilities provider’s stock after buying an additional 8,330 shares during the period. Edgestream Partners L.P.’s holdings in WEC Energy Group were worth $1,284,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WEC. Northwest Bank & Trust Co acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at $26,000. Dakota Community Bank & Trust NA acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at $27,000. Achmea Investment Management B.V. acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $27,000. First Manhattan Co. raised its holdings in shares of WEC Energy Group by 102.0% in the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares during the period. Finally, Center for Financial Planning Inc. purchased a new stake in shares of WEC Energy Group in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

WEC Energy Group Stock Down 0.5 %

Shares of NYSE WEC opened at $81.32 on Tuesday. The stock has a market cap of $25.65 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.43. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. WEC Energy Group, Inc. has a 52-week low of $75.47 and a 52-week high of $101.11. The business has a 50-day moving average price of $82.36 and a 200 day moving average price of $86.37.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.80%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Equities research analysts forecast that WEC Energy Group, Inc. will post 4.61 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, November 13th. This represents a $3.12 dividend on an annualized basis and a yield of 3.84%. WEC Energy Group’s payout ratio is 72.06%.

Analyst Ratings Changes

WEC has been the topic of several research analyst reports. UBS Group cut their price objective on WEC Energy Group from $87.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, October 4th. JPMorgan Chase & Co. upped their price target on WEC Energy Group from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Wednesday, August 16th. Barclays cut their price target 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. LADENBURG THALM/SH SH began coverage on WEC Energy Group in a report on Monday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on WEC Energy Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. One investment 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, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $91.00.

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.