Park Place Capital Corp Decreases Position in WEC Energy Group, Inc. (NYSE:WEC)

Park Place Capital Corp lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,189 shares of the utilities provider’s stock after selling 1,789 shares during the period. Park Place Capital Corp’s holdings in WEC Energy Group were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Bank & Trust Co purchased a new position in WEC Energy Group in the 4th quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group in the 1st quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in WEC Energy Group in the 4th quarter worth $26,000. Valued Wealth Advisors LLC purchased a new position in WEC Energy Group in the 4th quarter worth $28,000. Finally, First United Bank & Trust purchased a new position in WEC Energy Group in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

NYSE:WEC opened at $77.69 on Tuesday. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week 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 stock has a market capitalization of $24.54 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.41. The stock’s 50-day moving average price is $81.42 and its 200-day moving average price is $81.03.

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, topping the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm posted $1.61 EPS. WEC Energy Group’s revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that WEC Energy Group, Inc. 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. Investors of record on Tuesday, May 14th were issued a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s payout ratio is 72.93%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WEC shares. The Goldman Sachs Group started coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price for the company. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Scotiabank cut their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets increased their price target 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. Finally, KeyCorp increased their price target on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Three investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.92.

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.