Mission Wealth Management LP Acquires 384 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mission Wealth Management LP increased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,591 shares of the utilities provider’s stock after purchasing an additional 384 shares during the quarter. Mission Wealth Management LP’s holdings in WEC Energy Group were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at about $242,000. JPMorgan Chase & Co. raised its stake in shares of WEC Energy Group by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock valued at $346,021,000 after acquiring an additional 142,412 shares during the period. Sei Investments Co. grew its holdings in shares of WEC Energy Group by 37.5% in the third quarter. Sei Investments Co. now owns 395,762 shares of the utilities provider’s stock valued at $31,879,000 after purchasing an additional 107,879 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of WEC Energy Group in the 3rd quarter valued at $1,049,000. Finally, The Manufacturers Life Insurance Company raised its position in WEC Energy Group by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 817,953 shares of the utilities provider’s stock valued at $65,883,000 after purchasing an additional 47,117 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

WEC traded up $0.17 during mid-day trading on Friday, reaching $77.85. 1,946,150 shares of the company traded hands, compared to its average volume of 1,690,011. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $93.37. The company’s fifty day moving average price is $80.98 and its 200-day moving average price is $80.88. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $24.59 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.01 and a beta of 0.41.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 EPS. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were given a $0.835 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.29%. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp raised their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target for the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. BMO Capital Markets raised their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Finally, Scotiabank lowered their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average price target of $85.92.

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.