Foundations Investment Advisors LLC Boosts Stock Holdings in WEC Energy Group, Inc. $WEC

Foundations Investment Advisors LLC grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 231.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,280 shares of the utilities provider’s stock after purchasing an additional 28,830 shares during the quarter. Foundations Investment Advisors LLC’s holdings in WEC Energy Group were worth $4,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisors Capital Management LLC raised its stake in WEC Energy Group by 5.0% in the second quarter. Advisors Capital Management LLC now owns 5,097 shares of the utilities provider’s stock worth $531,000 after buying an additional 245 shares in the last quarter. Hibernia Wealth Partners LLC purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at $278,000. First Western Trust Bank purchased a new position in shares of WEC Energy Group in the 2nd quarter valued at $259,000. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of WEC Energy Group by 4.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 48,529 shares of the utilities provider’s stock worth $5,057,000 after purchasing an additional 2,233 shares during the last quarter. Finally, Bailard Inc. boosted its position in WEC Energy Group by 29.2% during the second quarter. Bailard Inc. now owns 2,632 shares of the utilities provider’s stock valued at $274,000 after purchasing an additional 595 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on WEC shares. Citigroup assumed coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price for the company. Wall Street Zen lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Barclays increased their target price on shares of WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. TD Cowen began coverage on shares of WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, WEC Energy Group presently has an average rating of “Moderate Buy” and a consensus price target of $120.21.

WEC Energy Group Trading Down 0.8%

Shares of WEC Energy Group stock opened at $110.80 on Friday. The firm’s 50 day simple moving average is $112.89 and its two-hundred day simple moving average is $108.92. The firm has a market capitalization of $36.04 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 3.13 and a beta of 0.48. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $118.18. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data 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 business had revenue of $2.28 billion during the quarter. Analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Announces Dividend

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

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