Dividend Assets Capital LLC Grows Stake in WEC Energy Group, Inc. (NYSE:WEC)


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Dividend Assets Capital LLC increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 14.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,351 shares of the utilities provider’s stock after purchasing an additional 4,049 shares during the quarter. Dividend Assets Capital LLC’s holdings in WEC Energy Group were worth $3,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WEC. Lindbrook Capital LLC increased its position in WEC Energy Group by 94.7% during the 1st quarter. Lindbrook Capital LLC now owns 588 shares of the utilities provider’s stock valued at $55,000 after buying an additional 286 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of WEC Energy Group by 12.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 107,391 shares of the utilities provider’s stock worth $9,970,000 after acquiring an additional 11,844 shares during the period. DAVENPORT & Co LLC grew its holdings in shares of WEC Energy Group by 7.1% in the first quarter. DAVENPORT & Co LLC now owns 8,967 shares of the utilities provider’s stock worth $839,000 after acquiring an additional 591 shares during the period. JGP Wealth Management LLC lifted its position in WEC Energy Group by 1.6% during the first quarter. JGP Wealth Management LLC now owns 54,081 shares of the utilities provider’s stock valued at $5,061,000 after purchasing an additional 845 shares in the last quarter. Finally, Ledyard National Bank purchased a new position in WEC Energy Group during the first quarter valued at $706,000. Institutional investors own 73.05% of the company’s stock.

WEC has been the topic of several analyst reports. Mizuho initiated coverage on WEC Energy Group in a research note on Wednesday, April 14th. They set a “neutral” rating and a $94.00 price objective on the stock. Wells Fargo & Company upgraded WEC Energy Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $94.00 to $93.00 in a research report on Wednesday, March 10th. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 target price on the stock in a research report on Wednesday, January 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $95.45.

WEC traded up $0.32 on Tuesday, reaching $98.32. The company had a trading volume of 4,196 shares, compared to its average volume of 1,347,335. WEC Energy Group, Inc. has a 1 year low of $80.55 and a 1 year high of $106.85. The stock has a market capitalization of $31.01 billion, a PE ratio of 26.49, a P/E/G ratio of 4.51 and a beta of 0.18. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $93.62 and a 200-day moving average price of $92.24.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Monday, May 3rd. The utilities provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. WEC Energy Group had a net margin of 16.26% and a return on equity of 11.36%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business’s revenue was up 27.6% compared to the same quarter last year. As a group, analysts expect that WEC Energy Group, Inc. will post 3.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be given a dividend of $0.6775 per share. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $2.71 annualized dividend and a yield of 2.76%. WEC Energy Group’s payout ratio is currently 75.70%.

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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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