23,288 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,288 shares of the utilities provider’s stock, valued at approximately $1,861,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Bank & Trust Co acquired a new position in WEC Energy Group in the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of WEC Energy Group during the fourth quarter worth $26,000. Valued Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at about $28,000. First United Bank & Trust purchased a new position in shares of WEC Energy Group in the fourth quarter worth about $30,000. Finally, Fortitude Family Office LLC acquired a new position in WEC Energy Group during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.4 %

WEC opened at $78.05 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The firm has a market cap of $24.65 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.03 and a beta of 0.42. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $93.37. The business has a fifty day simple moving average of $81.58 and a 200-day simple moving average of $81.38.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s payout ratio is currently 72.93%.

Analyst Ratings Changes

A number of research firms have weighed in on WEC. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. BMO Capital Markets lifted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. KeyCorp upped their target price on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, April 19th. The Goldman Sachs Group started coverage on WEC Energy Group in a report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Scotiabank dropped their price objective on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $85.92.

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.