Mesirow Financial Investment Management Inc. Increases Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Mesirow Financial Investment Management Inc. increased its shareholding in WEC Energy Group by 86.8% in Q1, acquiring a total of 48,014 shares valued at approximately $5.23 million.
• The company reported $0.76 EPS for the last quarter, exceeding estimates and showing a revenue increase of 13.4% year-over-year, totaling $2.01 billion.
• WEC Energy Group announced a quarterly dividend of $0.8925 per share, indicating a dividend yield of 3.29%, with a dividend payout ratio of 69.59%.

Mesirow Financial Investment Management Inc. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 86.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,014 shares of the utilities provider's stock after acquiring an additional 22,309 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in WEC Energy Group were worth $5,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hughes Financial Services LLC bought a new stake in shares of WEC Energy Group during the first quarter worth about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the first quarter worth about $32,000. Golden State Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 245 shares during the last quarter. Creekmur Asset Management LLC grew its holdings in shares of 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 purchasing an additional 363 shares during the last quarter. Finally, Stephens Consulting LLC grew its holdings in shares of WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after purchasing an additional 316 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

Analyst Ratings Changes

WEC has been the topic of a number of recent analyst reports. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Wells Fargo & Company lifted their price objective 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. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a research note on Friday, July 11th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group presently has an average rating of "Hold" and a consensus price target of $106.40.

Insider Buying and Selling

In related 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 sale, the vice president directly owned 2,686 shares of the company's stock, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 1.1%

Shares of NYSE:WEC traded up $1.19 during trading on Monday, reaching $111.43. 581,550 shares of the stock were exchanged, compared to its average volume of 2,215,769. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a 1-year low of $86.76 and a 1-year high of $111.64. The stock has a fifty day moving average of $105.95 and a two-hundred day moving average of $105.40. The firm has a market cap of $35.56 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 3.03 and a beta of 0.42.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates 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%. WEC Energy Group's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared 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. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group's dividend payout ratio is presently 68.39%.

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.