110,751 Shares in WEC Energy Group, Inc. (NYSE:WEC) Bought by Norden Group LLC

Norden Group LLC bought a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 110,751 shares of the utilities provider’s stock, valued at approximately $9,095,000.

A number of other hedge funds have also made changes to their positions in WEC. United Capital Management of KS Inc. grew its stake in WEC Energy Group by 10.6% in the 1st quarter. United Capital Management of KS Inc. now owns 30,773 shares of the utilities provider’s stock valued at $2,527,000 after acquiring an additional 2,952 shares during the last quarter. State of Alaska Department of Revenue raised its stake in WEC Energy Group by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 34,210 shares of the utilities provider’s stock valued at $2,809,000 after purchasing an additional 145 shares during the last quarter. Albion Financial Group UT raised its stake in WEC Energy Group by 2.1% in the 1st quarter. Albion Financial Group UT now owns 51,679 shares of the utilities provider’s stock valued at $4,244,000 after purchasing an additional 1,087 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in WEC Energy Group by 1,188.1% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 34,251 shares of the utilities provider’s stock valued at $2,813,000 after purchasing an additional 31,592 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in shares of WEC Energy Group by 69.3% during the 1st quarter. Claro Advisors LLC now owns 9,115 shares of the utilities provider’s stock worth $748,000 after purchasing an additional 3,730 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Scotiabank cut 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 report on Monday, April 22nd. The Goldman Sachs Group began coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target for the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp upped their target price on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets increased their target price 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group Trading Down 0.4 %

NYSE:WEC opened at $77.69 on Thursday. The firm has a market capitalization of $24.54 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.02 and a beta of 0.41. The business has a 50 day simple moving average of $81.25 and a 200 day simple moving average of $80.95. 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, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results 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. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. Equities research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.30%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

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.