North Star Asset Management Inc. increased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,703 shares of the utilities provider’s stock after buying an additional 381 shares during the quarter. North Star Asset Management Inc.’s holdings in WEC Energy Group were worth $710,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in WEC Energy Group by 2.0% during the 2nd quarter. BlackRock Inc. now owns 28,158,196 shares of the utilities provider’s stock valued at $2,347,547,000 after purchasing an additional 550,839 shares during the last quarter. State Street Corp increased its position in shares of WEC Energy Group by 4.8% during the 4th quarter. State Street Corp now owns 17,720,442 shares of the utilities provider’s stock valued at $1,634,356,000 after purchasing an additional 805,484 shares during the last quarter. California Public Employees Retirement System increased its position in shares of WEC Energy Group by 2.6% during the 4th quarter. California Public Employees Retirement System now owns 2,630,131 shares of the utilities provider’s stock valued at $242,577,000 after purchasing an additional 65,713 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of WEC Energy Group by 8.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,251,754 shares of the utilities provider’s stock worth $214,142,000 after purchasing an additional 181,076 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of WEC Energy Group by 8.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,479,395 shares of the utilities provider’s stock worth $140,690,000 after purchasing an additional 110,198 shares during the period. 76.89% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on WEC shares. Wells Fargo & Co raised their price objective on shares of WEC Energy Group from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Credit Suisse Group lowered their price objective on shares of WEC Energy Group from $85.00 to $81.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of WEC Energy Group from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Argus reissued a “buy” rating on shares of WEC Energy Group in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $88.27.
Shares of NYSE WEC traded up $0.66 during midday trading on Friday, hitting $101.87. 1,705,127 shares of the company’s stock were exchanged, compared to its average volume of 1,439,420. WEC Energy Group Inc has a 12-month low of $73.74 and a 12-month high of $101.37. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 1.10. The company has a market cap of $31.59 billion and a price-to-earnings ratio of 28.46. The business’s fifty day moving average price is $96.14 and its two-hundred day moving average price is $92.62.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, January 30th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. WEC Energy Group had a net margin of 15.08% and a return on equity of 11.18%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $0.65 earnings per share. WEC Energy Group’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts expect that WEC Energy Group Inc will post 3.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.6325 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, February 13th. This represents a $2.53 dividend on an annualized basis and a dividend yield of 2.48%. WEC Energy Group’s dividend payout ratio is presently 65.92%.
WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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