Great Valley Advisor Group Inc. grew its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,517 shares of the utilities provider's stock after buying an additional 5,289 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in WEC Energy Group were worth $4,468,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at $188,879,000. Janus Henderson Group PLC boosted its stake in shares of WEC Energy Group by 3,815.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider's stock valued at $138,342,000 after acquiring an additional 1,433,522 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of WEC Energy Group by 15.4% during the fourth quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock valued at $370,128,000 after acquiring an additional 526,014 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.
WEC Energy Group Stock Performance
WEC traded up $1.49 during trading on Friday, reaching $107.51. 2,612,257 shares of the company were exchanged, compared to its average volume of 2,134,850. The stock has a market cap of $34.31 billion, a P/E ratio of 22.26, a PEG ratio of 2.60 and a beta of 0.46. The firm has a 50 day moving average of $106.98 and a 200 day moving average of $102.41. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00.
WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm's revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 EPS. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.
WEC Energy Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $0.8975 per share. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's dividend payout ratio is presently 69.59%.
Analyst Ratings Changes
A number of analysts have issued reports on WEC shares. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. BMO Capital Markets raised their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Wells Fargo & Company raised their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, WEC Energy Group has a consensus rating of "Hold" and a consensus price target of $107.13.
Get Our Latest Stock Report on WEC Energy Group
Insider Transactions at WEC Energy Group
In other news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president now owns 2,686 shares of the company's stock, valued at approximately $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.
About WEC Energy Group
(
Free Report)
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.
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