Cwm LLC Reduces Stake in WEC Energy Group, Inc. (NYSE:WEC)

Cwm LLC reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,626 shares of the utilities provider’s stock after selling 1,011 shares during the quarter. Cwm LLC’s holdings in WEC Energy Group were worth $1,365,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in WEC Energy Group in the 4th quarter valued at $983,000. Dearborn Partners LLC grew its holdings in shares of WEC Energy Group by 29.2% during the 4th quarter. Dearborn Partners LLC now owns 582,421 shares of the utilities provider’s stock worth $49,022,000 after purchasing an additional 131,797 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of WEC Energy Group by 6.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,255 shares of the utilities provider’s stock worth $27,391,000 after purchasing an additional 19,867 shares during the period. Vaughan David Investments LLC IL grew its holdings in shares of WEC Energy Group by 3.4% during the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider’s stock worth $36,059,000 after purchasing an additional 14,084 shares during the period. Finally, Alley Investment Management Company LLC grew its holdings in shares of WEC Energy Group by 324.5% during the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock worth $3,304,000 after purchasing an additional 30,009 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

WEC stock opened at $78.05 on Thursday. 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 firm has a market capitalization of $24.65 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.02 and a beta of 0.42. The business’s 50-day moving average is $81.54 and its two-hundred day moving average is $81.35. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $93.37.

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

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th were given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Analysts Set New Price Targets

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