WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in WEC Energy Group by 1.4%, owning approximately 1,999,474 shares, valued at $217.90 million.
• WEC Energy Group's stock has a consensus rating of "Hold" with an average target price of $106.40, while various analysts have given conflicting ratings from "buy" to "sell".
• The company announced a quarterly dividend of $0.8925 per share, resulting in an annualized dividend yield of 3.32% and a payout ratio of 69.59%.

Federated Hermes Inc. lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,999,474 shares of the utilities provider's stock after acquiring an additional 26,921 shares during the period. Federated Hermes Inc. owned 0.63% of WEC Energy Group worth $217,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new position in WEC Energy Group during the fourth quarter worth approximately $28,000. Hughes Financial Services LLC acquired a new position in WEC Energy Group during the first quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group during the first quarter worth approximately $32,000. Golden State Wealth Management LLC increased its position in WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after buying an additional 245 shares during the period. Finally, Creekmur Asset Management LLC increased its position in WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after buying an additional 363 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Transactions 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 stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president directly owned 2,686 shares of the company's stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Barclays lifted their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $106.40.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded up $1.27 during trading on Friday, reaching $110.35. The company's stock had a trading volume of 2,446,145 shares, compared to its average volume of 2,219,449. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 12-month low of $86.76 and a 12-month high of $111.07. The company has a market capitalization of $35.22 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.98 and a beta of 0.44. The business has a 50 day moving average price of $105.88 and a 200-day moving average price of $105.18.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be issued a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group's payout ratio is currently 68.39%.

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.