Sei Investments Co. decreased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 23.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 127,490 shares of the utilities provider’s stock after selling 38,609 shares during the quarter. Sei Investments Co.’s holdings in WEC Energy Group were worth $11,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the business. Motco increased its position in WEC Energy Group by 50.4% during the 4th quarter. Motco now owns 1,697 shares of the utilities provider’s stock worth $157,000 after buying an additional 569 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of WEC Energy Group in the fourth quarter worth $452,000. Rational Advisors LLC increased its position in shares of WEC Energy Group by 2,321.6% in the fourth quarter. Rational Advisors LLC now owns 6,054 shares of the utilities provider’s stock worth $558,000 after purchasing an additional 5,804 shares during the period. North Star Asset Management Inc. increased its position in shares of WEC Energy Group by 5.2% in the fourth quarter. North Star Asset Management Inc. now owns 7,703 shares of the utilities provider’s stock worth $710,000 after purchasing an additional 381 shares during the period. Finally, Secure Asset Management LLC bought a new position in shares of WEC Energy Group in the fourth quarter worth $264,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.
A number of research analysts recently commented on the company. Wells Fargo & Co raised their price target on WEC Energy Group from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup raised their price target on WEC Energy Group from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Argus restated a “buy” rating on shares of WEC Energy Group in a research report on Tuesday, January 14th. Finally, Credit Suisse Group decreased their price target on WEC Energy Group from $85.00 to $81.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $88.27.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.20 billion. WEC Energy Group had a return on equity of 11.18% and a net margin of 15.08%. WEC Energy Group’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, equities analysts predict that WEC Energy Group Inc will post 3.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 14th will be paid a $0.6325 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 2.48%. WEC Energy Group’s dividend payout ratio (DPR) is 70.67%.
WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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