Nomura Asset Management Co. Ltd. increased its holdings in WEC Energy Group Inc (NYSE:WEC) by 0.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 206,244 shares of the utilities provider’s stock after purchasing an additional 450 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.07% of WEC Energy Group worth $18,176,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. APG Asset Management N.V. increased its holdings in shares of WEC Energy Group by 5.7% in the first quarter. APG Asset Management N.V. now owns 368,770 shares of the utilities provider’s stock valued at $25,972,000 after purchasing an additional 19,760 shares during the last quarter. Alliancebernstein L.P. grew its position in WEC Energy Group by 1.9% in the first quarter. Alliancebernstein L.P. now owns 517,127 shares of the utilities provider’s stock worth $45,574,000 after acquiring an additional 9,775 shares during the period. M&T Bank Corp grew its position in WEC Energy Group by 12.9% in the first quarter. M&T Bank Corp now owns 25,223 shares of the utilities provider’s stock worth $2,223,000 after acquiring an additional 2,873 shares during the period. Marietta Wealth Management LLC grew its position in WEC Energy Group by 14.2% in the first quarter. Marietta Wealth Management LLC now owns 5,233 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 650 shares during the period. Finally, MML Investors Services LLC grew its position in WEC Energy Group by 6.0% in the first quarter. MML Investors Services LLC now owns 8,852 shares of the utilities provider’s stock worth $780,000 after acquiring an additional 502 shares during the period. 74.22% of the stock is owned by institutional investors and hedge funds.
WEC traded down $2.80 during trading on Thursday, reaching $90.91. The company’s stock had a trading volume of 656,594 shares, compared to its average volume of 1,926,427. WEC Energy Group Inc has a 52-week low of $68.01 and a 52-week high of $109.53. The company’s fifty day moving average price is $89.51 and its 200-day moving average price is $93.01. The company has a market capitalization of $29.29 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 4.21 and a beta of 0.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.65.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.11. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.43 billion. WEC Energy Group had a return on equity of 11.40% and a net margin of 16.09%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 EPS. Equities analysts predict that WEC Energy Group Inc will post 3.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.6325 per share. This represents a $2.53 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Wednesday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is 70.67%.
In other news, Director Ulice Payne, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $87.31, for a total transaction of $104,772.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.
Several brokerages recently weighed in on WEC. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Monday, June 1st. Wells Fargo & Co decreased their target price on WEC Energy Group from $103.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, May 5th. Credit Suisse Group cut their price target on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating on the stock in a research note on Thursday, April 30th. CSFB cut their price target on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating on the stock in a research note on Thursday, April 30th. Finally, Barclays cut their target price on WEC Energy Group from $97.00 to $74.00 and set an “underweight” rating on the stock in a research report on Thursday, March 26th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $86.30.
WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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