WEC Energy Group, Inc. (NYSE:WEC) Short Interest Up 27.8% in June

WEC Energy Group, Inc. (NYSE:WEC) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 8,970,000 shares, an increase of 27.8% from the May 31st total of 7,020,000 shares. Based on an average daily volume of 2,010,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 2.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WEC. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group during the fourth quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group in the first quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group in the fourth quarter worth about $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group in the fourth quarter worth about $28,000. Finally, First United Bank & Trust purchased a new position in WEC Energy Group in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WEC. KeyCorp raised their target price on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Scotiabank decreased their target price on 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. BMO Capital Markets raised their target price on WEC Energy Group from $89.00 to $90.00 and gave the stock 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 issued a “neutral” rating and a $88.00 target price on the stock. Three 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. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group Trading Up 0.0 %

Shares of WEC Energy Group stock opened at $78.46 on Friday. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.03 and a beta of 0.42. The business has a 50-day moving average price of $81.42 and a 200-day moving average price of $81.08. 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 has a twelve month low of $75.13 and a twelve month high of $93.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. Equities research analysts anticipate that WEC Energy Group will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were given a dividend of $0.835 per share. The ex-dividend date of this dividend 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 72.93%.

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.