Quadrature Capital Ltd Purchases 5,994 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Quadrature Capital Ltd lifted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 18.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,980 shares of the utilities provider’s stock after buying an additional 5,994 shares during the quarter. Quadrature Capital Ltd’s holdings in WEC Energy Group were worth $3,282,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WEC. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group in the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group in the fourth quarter worth $26,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth $28,000. First United Bank & Trust purchased a new position in shares of WEC Energy Group in the fourth quarter worth $30,000. Finally, Fortitude Family Office LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.4 %

Shares of WEC opened at $78.05 on Wednesday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37. The company has a market cap of $24.65 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.03 and a beta of 0.42. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $81.58 and its 200-day simple moving average is $81.38.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s payout ratio is presently 72.93%.

Analysts Set New Price Targets

Several equities analysts have recently commented on WEC shares. KeyCorp boosted their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. Scotiabank decreased their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets upped their price target on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Three research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.92.

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.