Hennion & Walsh Asset Management Inc. Has $2.64 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Hennion & Walsh Asset Management Inc. reduced its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 32,112 shares of the utilities provider’s stock after selling 969 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in WEC Energy Group were worth $2,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WEC. Register Financial Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $80,000. Thrive Wealth Management LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $263,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of WEC Energy Group by 11.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,650 shares of the utilities provider’s stock valued at $12,125,000 after purchasing an additional 15,546 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at $72,000. Finally, Brookstone Capital Management boosted its stake in shares of WEC Energy Group by 789.0% in the 1st quarter. Brookstone Capital Management now owns 125,219 shares of the utilities provider’s stock valued at $10,283,000 after purchasing an additional 111,134 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 0.0 %

Shares of WEC Energy Group stock traded up $0.01 during trading hours on Friday, reaching $78.46. The company’s stock had a trading volume of 2,419,230 shares, compared to its average volume of 2,115,833. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $93.37. The company has a market capitalization of $24.78 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.03 and a beta of 0.42. The stock’s fifty day simple moving average is $81.42 and its two-hundred day simple moving average is $81.09. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.42 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 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 firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 earnings per share. On average, research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were issued a $0.835 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.26%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed 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. Scotiabank cut their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets increased their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, KeyCorp increased their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.92.

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.