WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Duality Advisers LP

Duality Advisers LP increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 69.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,659 shares of the utilities provider’s stock after purchasing an additional 22,478 shares during the quarter. Duality Advisers LP’s holdings in WEC Energy Group were worth $4,489,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WEC. Confluence Investment Management LLC acquired a new stake in WEC Energy Group during the 1st quarter worth about $127,945,000. American Century Companies Inc. raised its holdings in WEC Energy Group by 5,257.7% during the 3rd quarter. American Century Companies Inc. now owns 1,465,114 shares of the utilities provider’s stock worth $118,015,000 after buying an additional 1,437,768 shares during the period. Clearbridge Investments LLC raised its holdings in WEC Energy Group by 763.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,332,587 shares of the utilities provider’s stock worth $112,164,000 after buying an additional 1,178,270 shares during the period. Envestnet Asset Management Inc. raised its holdings in WEC Energy Group by 93.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after buying an additional 803,718 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in WEC Energy Group by 2,122.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 441,603 shares of the utilities provider’s stock worth $37,170,000 after buying an additional 421,731 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC traded up $0.75 during trading hours on Friday, reaching $81.09. The stock had a trading volume of 938,699 shares, compared to its average volume of 2,104,951. The business’s fifty day moving average is $80.65 and its two-hundred day moving average is $80.77. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The company has a market cap of $25.61 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.02 and a beta of 0.41. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.835 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.12%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price on the stock. BMO Capital Markets upped their target price on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Scotiabank decreased 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 report on Monday, April 22nd. KeyCorp upped their target price on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.92.

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.