EverSource Wealth Advisors LLC Boosts Holdings in WEC Energy Group, Inc. (NYSE:WEC)

EverSource Wealth Advisors LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 49.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 807 shares of the utilities provider’s stock after buying an additional 267 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in WEC Energy Group were worth $67,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the first quarter valued at about $25,000. Northwest Bank & Trust Co bought a new position in shares of WEC Energy Group during the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of WEC Energy Group during the fourth quarter valued at about $26,000. First United Bank & Trust bought a new position in shares of WEC Energy Group during the fourth quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of WEC Energy Group during the first quarter valued at about $32,000. 77.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WEC. KeyCorp reduced their price objective on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company raised their target price on WEC Energy Group from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. BMO Capital Markets raised their target price on WEC Energy Group from $87.00 to $91.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Barclays raised their target price on WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, 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 on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.31.

WEC Energy Group Stock Up 0.9 %

Shares of WEC stock traded up $0.78 during trading hours on Tuesday, hitting $88.97. 1,179,573 shares of the company’s stock traded hands, compared to its average volume of 2,168,982. The stock’s fifty day simple moving average is $80.64 and its two-hundred day simple moving average is $80.70. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $92.23. The stock has a market cap of $28.12 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.33 and a beta of 0.41. The company has a quick ratio of 0.42, a current ratio of 0.74 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be issued a $0.835 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.75%. WEC Energy Group’s payout ratio is currently 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.