Fairman Group LLC Invests $37,000 in WEC Energy Group, Inc. (NYSE:WEC)

Fairman Group LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 443 shares of the utilities provider’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Balentine LLC grew its stake in shares of WEC Energy Group by 2.7% during the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 131 shares during the period. N.E.W. Advisory Services LLC lifted its position in shares of WEC Energy Group by 0.4% during the 4th quarter. N.E.W. Advisory Services LLC now owns 36,086 shares of the utilities provider’s stock valued at $3,037,000 after acquiring an additional 132 shares during the period. Keystone Financial Group boosted its stake in shares of WEC Energy Group by 4.5% during the 4th quarter. Keystone Financial Group now owns 3,211 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 138 shares in the last quarter. QRG Capital Management Inc. increased its stake in WEC Energy Group by 2.1% in the 4th quarter. QRG Capital Management Inc. now owns 7,796 shares of the utilities provider’s stock valued at $656,000 after purchasing an additional 164 shares in the last quarter. Finally, Carlson Capital Management boosted its position in WEC Energy Group by 5.9% during the third quarter. Carlson Capital Management now owns 3,011 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WEC. KeyCorp lifted their price target on 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 assumed coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price on the stock. BMO Capital Markets lifted their price target on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Scotiabank lowered their price objective on shares of 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group Stock Down 0.4 %

NYSE WEC opened at $78.05 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $93.37. The business has a 50 day moving average price of $81.58 and a two-hundred day moving average price of $81.38. The stock has a market cap of $24.65 billion, a PE ratio of 17.04, a P/E/G ratio of 2.03 and a beta of 0.42.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the business earned $1.61 EPS. The business’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 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.