Police & Firemen s Retirement System of New Jersey Buys 2,233 Shares of WEC Energy Group, Inc. $WEC

Police & Firemen s Retirement System of New Jersey raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,529 shares of the utilities provider’s stock after purchasing an additional 2,233 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in WEC Energy Group were worth $5,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group during the first quarter valued at $26,000. Bayforest Capital Ltd purchased a new position in shares of WEC Energy Group in the 2nd quarter worth $26,000. NewSquare Capital LLC increased its holdings in shares of WEC Energy Group by 60.5% in the 2nd quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in shares of WEC Energy Group in the 1st quarter valued at about $35,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.8%

NYSE:WEC opened at $110.80 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The firm has a market cap of $36.04 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.13 and a beta of 0.48. The company has a 50-day moving average of $112.89 and a 200 day moving average of $108.92. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $118.18.

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

WEC Energy Group Announces Dividend

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

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of recent research reports. UBS Group lifted their target price on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Royal Bank Of Canada set a $131.00 price target on shares of WEC Energy Group in a research note on Monday, October 27th. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Mizuho set a $125.00 target price on WEC Energy Group in a research note on Monday, October 27th. Finally, BMO Capital Markets upped their price objective on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Moderate Buy” and a consensus target price of $120.21.

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