Edgestream Partners L.P. Purchases 8,330 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Edgestream Partners L.P. grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 133.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,556 shares of the utilities provider’s stock after acquiring an additional 8,330 shares during the quarter. Edgestream Partners L.P.’s holdings in WEC Energy Group were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in shares of WEC Energy Group by 4.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 151,440 shares of the utilities provider’s stock valued at $13,363,000 after buying an additional 6,054 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of WEC Energy Group by 3.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,732 shares of the utilities provider’s stock valued at $9,859,000 after buying an additional 3,333 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of WEC Energy Group by 1.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 43,461 shares of the utilities provider’s stock valued at $3,835,000 after buying an additional 537 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of WEC Energy Group by 21.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 2,450 shares of the utilities provider’s stock valued at $216,000 after buying an additional 431 shares during the period. Finally, Ascension Asset Management LLC bought a new position in shares of WEC Energy Group during the 2nd quarter valued at $309,000. 75.75% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 0.5 %

Shares of WEC stock opened at $81.32 on Tuesday. The firm has a market capitalization of $25.65 billion, a PE ratio of 18.78, a PEG ratio of 3.11 and a beta of 0.43. The stock has a fifty day simple moving average of $82.36 and a two-hundred day simple moving average of $86.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.42 and a current ratio of 0.60. WEC Energy Group, Inc. has a 52-week low of $75.47 and a 52-week high of $101.11.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.80%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. On average, analysts predict that WEC Energy Group, Inc. will post 4.61 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, November 13th. WEC Energy Group’s payout ratio is 72.06%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WEC shares. Guggenheim lowered their price target on WEC Energy Group from $94.00 to $84.00 in a report on Monday, October 9th. Bank of America lowered WEC Energy Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $86.00 in a research note on Tuesday, October 17th. Wells Fargo & Company reduced their price objective on WEC Energy Group from $106.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Barclays reduced their price objective on WEC Energy Group from $83.00 to $81.00 and set an “underweight” rating for the company in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $91.00.

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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.