Baillie Gifford & Co. Raises Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Baillie Gifford & Co. increased its stake in WEC Energy Group by 53.9%, purchasing an additional 32,151 shares, bringing its total holdings to 91,849 shares valued at approximately $10 million.
• Several analysts have issued varying ratings and price targets for WEC Energy Group, with a consensus rating of "Hold" and an average target price of $106.40.
• The company recently disclosed a quarterly dividend of $0.8925 per share, reflecting a 3.26% yield, and has a dividend payout ratio of 69.59%.

Baillie Gifford & Co. grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 53.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,849 shares of the utilities provider's stock after buying an additional 32,151 shares during the quarter. Baillie Gifford & Co.'s holdings in WEC Energy Group were worth $10,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WEC. Prudent Man Investment Management Inc. purchased a new position in WEC Energy Group during the fourth quarter valued at approximately $28,000. Hughes Financial Services LLC purchased a new position in WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at approximately $32,000. Golden State Wealth Management LLC lifted its holdings in WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Finally, Creekmur Asset Management LLC raised its position in WEC Energy Group by 2,420.0% in the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 363 shares during the period. Institutional investors own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the sale, the vice president owned 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. UBS Group increased their price target on shares of WEC Energy Group from $105.00 to $107.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company raised their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $106.40.

WEC Energy Group Stock Up 0.5%

WEC traded up $0.51 during trading on Wednesday, reaching $109.14. 710,627 shares of the stock were exchanged, compared to its average volume of 2,193,888. The stock has a market cap of $34.83 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.95 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $84.35 and a twelve month high of $111.00. The stock's 50 day moving average price is $105.77 and its two-hundred day moving average price is $105.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.27%. WEC Energy Group's payout ratio is presently 69.59%.

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.