GAMMA Investing LLC Grows Stake in WEC Energy Group, Inc. (NYSE:WEC)

GAMMA Investing LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,944 shares of the utilities provider’s stock after purchasing an additional 1,758 shares during the quarter. GAMMA Investing LLC’s holdings in WEC Energy Group were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Bank & Trust Co bought a new position in shares of WEC Energy Group during the fourth quarter valued at $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of WEC Energy Group during the fourth quarter valued at $26,000. Valued Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at $28,000. First United Bank & Trust bought a new position in WEC Energy Group in the fourth quarter valued at about $30,000. Finally, Fortitude Family Office LLC bought a new position in WEC Energy Group in the fourth quarter valued at about $33,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

NYSE:WEC opened at $78.05 on Thursday. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.02 and a beta of 0.42. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $93.37. The business has a 50 day simple moving average of $81.54 and a 200-day simple moving average of $81.35. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating 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 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 company earned $1.61 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. BMO Capital Markets upped their price target 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. KeyCorp upped their price target 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. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Scotiabank reduced their price target 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target 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.