Edgestream Partners L.P. Raises Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Edgestream Partners L.P. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 241.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,595 shares of the utilities provider’s stock after acquiring an additional 27,284 shares during the quarter. Edgestream Partners L.P.’s holdings in WEC Energy Group were worth $3,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board increased its position in shares of WEC Energy Group by 142.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 33,574 shares of the utilities provider’s stock worth $2,757,000 after acquiring an additional 19,726 shares during the period. Blue Barn Wealth LLC increased its position in shares of WEC Energy Group by 21.0% during the first quarter. Blue Barn Wealth LLC now owns 4,042 shares of the utilities provider’s stock worth $332,000 after acquiring an additional 701 shares during the period. South Street Advisors LLC increased its position in shares of WEC Energy Group by 0.9% during the first quarter. South Street Advisors LLC now owns 169,072 shares of the utilities provider’s stock worth $13,884,000 after acquiring an additional 1,459 shares during the period. Spirepoint Private Client LLC purchased a new position in WEC Energy Group during the first quarter valued at approximately $225,000. Finally, Intech Investment Management LLC increased its holdings in WEC Energy Group by 335.4% during the first quarter. Intech Investment Management LLC now owns 54,090 shares of the utilities provider’s stock valued at $4,442,000 after buying an additional 41,668 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.0 %

WEC traded down $0.02 during trading on Tuesday, hitting $82.01. The stock had a trading volume of 104,511 shares, compared to its average volume of 2,080,396. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37. The stock has a 50 day simple moving average of $80.22 and a two-hundred day simple moving average of $80.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.42 and a current ratio of 0.55. The company has a market capitalization of $25.90 billion, a PE ratio of 17.91, a PEG ratio of 2.10 and a beta of 0.41.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS 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 during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 4.07%. WEC Energy Group’s payout ratio is currently 72.93%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WEC shares. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. BMO Capital Markets cut their price objective on shares of WEC Energy Group from $90.00 to $87.00 and set a “market perform” rating on the stock in a report on Monday. Scotiabank cut their price objective on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group started coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of WEC Energy Group from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $86.00.

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.