Mediolanum International Funds Ltd Has $4.15 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Mediolanum International Funds Ltd reduced its stake in WEC Energy Group by 18.5% in the first quarter, now holding 38,561 shares worth approximately $4.15 million.
• The company recently reported $2.27 EPS for the last quarter, exceeding expectations and marking a 17.5% year-over-year revenue increase to $3.15 billion.
• WEC Energy Group has declared a quarterly dividend of $0.8925 per share, with a dividend yield of 3.26% and a payout ratio of 69.59%.

Mediolanum International Funds Ltd trimmed its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,561 shares of the utilities provider's stock after selling 8,769 shares during the period. Mediolanum International Funds Ltd's holdings in WEC Energy Group were worth $4,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group during the 4th quarter valued at $28,000. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group in the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the first quarter worth $32,000. Golden State Wealth Management LLC increased its stake in shares of 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 worth $37,000 after acquiring an additional 245 shares during the last quarter. Finally, Creekmur Asset Management LLC raised its holdings 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 valued at $41,000 after buying an additional 363 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 0.5%

WEC traded up $0.58 during trading on Thursday, reaching $108.94. 720,167 shares of the company's stock were exchanged, compared to its average volume of 2,201,052. The company's fifty day moving average price is $105.81 and its 200-day moving average price is $105.07. 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, Inc. has a fifty-two week low of $84.35 and a fifty-two week high of $111.00. The firm has a market capitalization of $34.77 billion, a PE ratio of 21.24, a P/E/G ratio of 2.98 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $2.01 billion for 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be given a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.28%. WEC Energy Group's dividend payout ratio is currently 69.59%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WEC shares. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Barclays raised their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $106.40.

WEC Energy Group 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.