Wellington Management Group LLP Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

Wellington Management Group LLP bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 31,356 shares of the utilities provider’s stock, valued at approximately $2,639,000.

Other large investors have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new position in WEC Energy Group in the fourth quarter worth $99,000. Fortis Group Advisors LLC lifted its stake in shares of WEC Energy Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 7,610 shares of the utilities provider’s stock valued at $641,000 after purchasing an additional 3,805 shares during the period. Northwest Bank & Trust Co acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at about $25,000. Goldman Sachs Group Inc. boosted its holdings in WEC Energy Group by 15.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,520,644 shares of the utilities provider’s stock worth $127,993,000 after buying an additional 199,288 shares in the last quarter. Finally, Syon Capital LLC acquired a new position in WEC Energy Group during the fourth quarter worth about $274,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $78.46 on Monday. The company has a market cap of $24.78 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.03 and a beta of 0.42. The business has a fifty day simple moving average of $81.42 and a 200-day simple moving average of $81.03. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $93.37. 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 (NYSE:WEC) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, topping 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 analyst estimates of $2.92 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Monday, May 13th. 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.