Goldman Sachs Group Inc. Has $127.99 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Goldman Sachs Group Inc. grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,520,644 shares of the utilities provider’s stock after purchasing 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 large investors also recently made changes to their positions in WEC. Principal Securities Inc. bought a new stake in WEC Energy Group in the 4th quarter valued at about $983,000. Dearborn Partners LLC boosted its stake in shares of WEC Energy Group by 29.2% in the fourth quarter. Dearborn Partners LLC now owns 582,421 shares of the utilities provider’s stock valued at $49,022,000 after buying an additional 131,797 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in WEC Energy Group by 6.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,255 shares of the utilities provider’s stock worth $27,391,000 after buying an additional 19,867 shares in the last quarter. Vaughan David Investments LLC IL grew its position in WEC Energy Group by 3.4% during the fourth quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider’s stock worth $36,059,000 after buying an additional 14,084 shares in the last quarter. Finally, Alley Investment Management Company LLC increased its stake in WEC Energy Group by 324.5% during the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock worth $3,304,000 after acquiring an additional 30,009 shares during the period. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. BMO Capital Markets raised their target price on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Scotiabank cut their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. KeyCorp lifted their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, The Goldman Sachs Group assumed 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 objective for the company. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.92.

WEC Energy Group Stock Up 0.4 %

WEC traded up $0.32 during midday trading on Friday, hitting $78.86. The company had a trading volume of 1,241,695 shares, compared to its average volume of 2,426,643. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.03 and a beta of 0.42. The stock’s 50 day moving average price is $81.71 and its 200 day moving average price is $81.49. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $93.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results 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. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s dividend 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.