GAMMA Investing LLC Acquires 1,933 Shares of WEC Energy Group, Inc. (NYSE:WEC)

GAMMA Investing LLC increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 21.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,877 shares of the utilities provider’s stock after acquiring an additional 1,933 shares during the quarter. GAMMA Investing LLC’s holdings in WEC Energy Group were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WEC. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $25,000. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group during the fourth quarter valued at $25,000. Tennessee Valley Asset Management Partners purchased a new stake in WEC Energy Group during the fourth quarter valued at $26,000. First United Bank & Trust purchased a new stake in WEC Energy Group in the fourth quarter worth about $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in WEC Energy Group in the first quarter worth about $32,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on WEC. KeyCorp dropped their price target on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. The Goldman Sachs Group began coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company. Wells Fargo & Company lifted their price target on WEC Energy Group from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Scotiabank cut their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.85.

WEC Energy Group Stock Performance

NYSE:WEC traded down $1.09 during mid-day trading on Monday, reaching $89.07. 2,819,550 shares of the company’s stock were exchanged, compared to its average volume of 2,163,967. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.42 and a current ratio of 0.74. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $92.23. The firm has a market capitalization of $28.15 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.41. The business’s fifty day simple moving average is $80.49 and its two-hundred day simple moving average is $80.64.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

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.