Goldman Sachs Group Inc. raised its holdings in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,520,644 shares of the utilities provider’s stock after acquiring an additional 199,288 shares during the quarter. Goldman Sachs Group Inc. owned about 0.48% of WEC Energy Group worth $127,993,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners bought a new position in shares of WEC Energy Group during the fourth quarter worth $26,000. Valued Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the fourth quarter worth $28,000. First United Bank & Trust bought a new position in shares of WEC Energy Group during the fourth quarter worth $30,000. Fortitude Family Office LLC bought a new position in shares of WEC Energy Group during the fourth quarter worth $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of WEC Energy Group during the third quarter worth $38,000. 77.20% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on WEC shares. The Goldman Sachs Group started 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 raised their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp raised their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Scotiabank dropped their price objective on shares of 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.29.
View Our Latest Research Report on WEC Energy Group
WEC Energy Group Stock Down 0.6 %
Shares of WEC stock opened at $79.85 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $93.37. The firm’s fifty day moving average price is $81.92 and its two-hundred day moving average price is $81.57. The firm has a market capitalization of $25.22 billion, a P/E ratio of 17.43, a PEG ratio of 2.07 and a beta of 0.42.
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its quarterly earnings results 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%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 EPS. On average, equities analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.
WEC Energy Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.835 per share. The ex-dividend date was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.18%. WEC Energy Group’s dividend payout ratio is presently 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.
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