Metis Global Partners LLC Buys 2,034 Shares of WEC Energy Group, Inc. $WEC

Metis Global Partners LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.6% during the second quarter, Holdings Channel.com reports. The firm owned 28,721 shares of the utilities provider’s stock after buying an additional 2,034 shares during the period. Metis Global Partners LLC’s holdings in WEC Energy Group were worth $2,993,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Horizon Investment Services LLC bought a new position in shares of WEC Energy Group in the 1st quarter worth about $379,000. Los Angeles Capital Management LLC grew its holdings in WEC Energy Group by 2,964.9% in the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock worth $11,841,000 after purchasing an additional 105,106 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of WEC Energy Group during the first quarter valued at approximately $10,333,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of WEC Energy Group by 10.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 564,418 shares of the utilities provider’s stock valued at $61,510,000 after purchasing an additional 51,631 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of WEC Energy Group by 3.9% in the 1st quarter. Victory Capital Management Inc. now owns 411,248 shares of the utilities provider’s stock worth $44,818,000 after purchasing an additional 15,531 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WEC shares. KeyCorp raised their price objective on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Barclays raised their price target on WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. UBS Group upped their price target on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Wells Fargo & Company initiated coverage on shares of WEC Energy Group in a research note on Monday, October 27th. They set an “overweight” rating and a $124.00 price objective for the company. Finally, LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.

WEC Energy Group Price Performance

WEC opened at $112.85 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The stock has a market capitalization of $36.71 billion, a P/E ratio of 21.33, a P/E/G ratio of 3.18 and a beta of 0.48. The company’s 50-day simple moving average is $112.39 and its two-hundred day simple moving average is $108.80. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The firm had revenue of $2.28 billion during the quarter. As a group, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. WEC Energy Group’s payout ratio is currently 67.49%.

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. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.