Brookstone Capital Management Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Brookstone Capital Management lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 789.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,219 shares of the utilities provider’s stock after buying an additional 111,134 shares during the period. Brookstone Capital Management’s holdings in WEC Energy Group were worth $10,283,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WEC. Northwest Bank & Trust Co acquired a new stake in WEC Energy Group during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $26,000. Valued Wealth Advisors LLC acquired a new position in WEC Energy Group in the 4th quarter worth approximately $28,000. Finally, First United Bank & Trust acquired a new position in WEC Energy Group in the 4th quarter worth approximately $30,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 0.4 %

Shares of NYSE:WEC opened at $78.45 on Friday. The business’s 50 day moving average price is $81.52 and its 200-day moving average price is $81.15. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $93.37. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.02 and a beta of 0.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42.

WEC Energy Group (NYSE:WEC) last posted 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 business had revenue of $2.68 billion for the quarter, compared to the consensus estimate 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 was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.835 per share. The ex-dividend date was Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.26%. WEC Energy Group’s payout ratio is currently 72.93%.

Analyst Ratings Changes

WEC has been the topic of several recent research reports. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp upped their price target 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. 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. BMO Capital Markets boosted their price objective on 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, 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 target price on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.