Westwood Holdings Group Inc. Sells 62,823 Shares of WEC Energy Group, Inc. $WEC

Westwood Holdings Group Inc. decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 987,623 shares of the utilities provider’s stock after selling 62,823 shares during the quarter. WEC Energy Group comprises approximately 0.9% of Westwood Holdings Group Inc.’s portfolio, making the stock its 22nd largest holding. Westwood Holdings Group Inc.’s holdings in WEC Energy Group were worth $102,910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in shares of WEC Energy Group in the 1st quarter worth about $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group during the first quarter valued at $26,000. Bayforest Capital Ltd purchased a new stake in WEC Energy Group in the second quarter worth $26,000. New England Capital Financial Advisors LLC increased its holdings in WEC Energy Group by 265.8% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 278 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 202 shares during the last quarter. Finally, NewSquare Capital LLC raised its stake in WEC Energy Group by 60.5% in the 2nd quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 115 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEC has been the topic of several research reports. Mizuho set a $125.00 price target on shares of WEC Energy Group in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a research note on Thursday. Citigroup began coverage on WEC Energy Group in a report on Friday, October 3rd. They set a “buy” rating and a $131.00 target price for the company. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Scotiabank boosted their price objective on shares of WEC Energy Group from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.21.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $110.80 on Friday. The firm’s fifty day moving average price is $112.89 and its 200-day moving average price is $108.92. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $118.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The stock has a market cap of $36.04 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 3.15 and a beta of 0.48.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The firm had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. On average, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.8925 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group’s payout ratio is currently 67.49%.

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.