Natixis Advisors LLC Acquires 61,473 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Natixis Advisors LLC increased its stake in WEC Energy Group by 20.8%, acquiring an additional 61,473 shares to reach a total of 357,080 shares, valued at approximately $38.9 million.
• WEC Energy Group reported $0.76 EPS for the recent quarter, surpassing analysts' expectations, with a revenues increase of 13.4% year-over-year.
• The company announced a quarterly dividend of $0.8925 per share, translating to a 3.3% annualized yield, with a payout ratio of 68.39%.

Natixis Advisors LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 357,080 shares of the utilities provider's stock after acquiring an additional 61,473 shares during the period. Natixis Advisors LLC owned 0.11% of WEC Energy Group worth $38,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WEC. Horizon Investment Services LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $379,000. Los Angeles Capital Management LLC increased its position in shares of WEC Energy Group by 2,964.9% in the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after purchasing an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of WEC Energy Group in the first quarter worth approximately $10,333,000. Sowell Financial Services LLC bought a new position in shares of WEC Energy Group in the first quarter worth approximately $325,000. Finally, CWA Asset Management Group LLC increased its position in shares of WEC Energy Group by 5.6% in the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after purchasing an additional 157 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Up 1.0%

WEC stock traded up $1.12 on Monday, reaching $111.36. The company's stock had a trading volume of 456,683 shares, compared to its average volume of 2,214,907. The business has a fifty day simple moving average of $105.95 and a two-hundred day simple moving average of $105.40. WEC Energy Group, Inc. has a 12-month low of $86.76 and a 12-month high of $111.60. The firm has a market cap of $35.54 billion, a PE ratio of 21.35, a PEG ratio of 3.03 and a beta of 0.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, research 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 declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be given a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's payout ratio is currently 68.39%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.