Lloyd Advisory Services LLC. Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

Lloyd Advisory Services LLC. bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,690 shares of the utilities provider’s stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WEC. Deutsche Bank AG grew its position in shares of WEC Energy Group by 3.0% in the third quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock valued at $442,697,000 after purchasing an additional 158,652 shares during the period. JPMorgan Chase & Co. increased its stake in WEC Energy Group by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock worth $346,021,000 after buying an additional 142,412 shares in the last quarter. Northern Trust Corp increased its stake in WEC Energy Group by 2.9% during the 4th quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock worth $342,669,000 after buying an additional 116,219 shares in the last quarter. Morgan Stanley raised its holdings in shares of WEC Energy Group by 1.4% during the third quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider’s stock valued at $270,179,000 after acquiring an additional 44,797 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of WEC Energy Group by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock valued at $149,635,000 after acquiring an additional 51,540 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

WEC has been the subject of several recent research reports. Scotiabank reduced their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. KeyCorp raised their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. The Goldman Sachs Group began 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 target on the stock. BMO Capital Markets increased their price objective 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. Finally, StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Three equities research 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. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group Price Performance

WEC stock opened at $79.35 on Tuesday. 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 moving average of $81.54 and a two-hundred day moving average of $81.21. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.02 and a beta of 0.42. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. WEC Energy Group’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were issued a $0.835 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.21%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

WEC Energy Group Company 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.