Quadrature Capital Ltd Purchases 5,994 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Quadrature Capital Ltd grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,980 shares of the utilities provider’s stock after buying an additional 5,994 shares during the quarter. Quadrature Capital Ltd’s holdings in WEC Energy Group were worth $3,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Balentine LLC raised its position in shares of WEC Energy Group by 2.7% during the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock valued at $395,000 after buying an additional 131 shares in the last quarter. N.E.W. Advisory Services LLC raised its position in shares of WEC Energy Group by 0.4% during the 4th quarter. N.E.W. Advisory Services LLC now owns 36,086 shares of the utilities provider’s stock valued at $3,037,000 after buying an additional 132 shares in the last quarter. Keystone Financial Group raised its position in shares of WEC Energy Group by 4.5% during the 4th quarter. Keystone Financial Group now owns 3,211 shares of the utilities provider’s stock valued at $270,000 after buying an additional 138 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of WEC Energy Group by 2.1% during the 4th quarter. QRG Capital Management Inc. now owns 7,796 shares of the utilities provider’s stock valued at $656,000 after buying an additional 164 shares in the last quarter. Finally, Carlson Capital Management raised its position in shares of WEC Energy Group by 5.9% during the 3rd quarter. Carlson Capital Management now owns 3,011 shares of the utilities provider’s stock valued at $243,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

WEC has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective on the stock. KeyCorp increased their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, April 19th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Scotiabank reduced their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $85.92.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $78.05 on Wednesday. The firm has a market cap of $24.65 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.42. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37. 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 company’s fifty day simple moving average is $81.58 and its two-hundred day simple moving average is $81.38.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 EPS. As a group, equities analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

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

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.