Claro Advisors LLC Buys 3,730 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Claro Advisors LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 69.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,115 shares of the utilities provider’s stock after purchasing an additional 3,730 shares during the quarter. Claro Advisors LLC’s holdings in WEC Energy Group were worth $748,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WEC. Diversified Trust Co boosted its stake in WEC Energy Group by 2.7% in the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 134 shares in the last quarter. MPS Loria Financial Planners LLC boosted its holdings in WEC Energy Group by 2.1% in the first quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock worth $551,000 after acquiring an additional 135 shares in the last quarter. Fox Hill Wealth Management grew its stake in shares of WEC Energy Group by 18.7% during the first quarter. Fox Hill Wealth Management now owns 15,164 shares of the utilities provider’s stock worth $1,245,000 after acquiring an additional 2,393 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in shares of WEC Energy Group during the first quarter valued at about $239,000. Finally, WoodTrust Financial Corp acquired a new stake in WEC Energy Group in the 1st quarter worth approximately $302,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on WEC. BMO Capital Markets raised their price target on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp lifted their target price on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Scotiabank decreased 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. Finally, The Goldman Sachs Group started coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.92.

WEC Energy Group Stock Down 1.0 %

Shares of WEC opened at $77.69 on Tuesday. 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 firm has a market cap of $24.54 billion, a P/E ratio of 16.96, a PEG ratio of 2.03 and a beta of 0.41. The stock’s 50 day moving average is $81.42 and its two-hundred day moving average is $81.03. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $93.37.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, topping 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 company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.835 per share. The ex-dividend date was Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.30%. WEC Energy Group’s dividend payout ratio (DPR) 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.