WEC Energy Group, Inc. (NYSE:WEC) Stock Position Decreased by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,040 shares of the utilities provider’s stock after selling 8,300 shares during the quarter. Hennessy Advisors Inc. owned about 0.06% of WEC Energy Group worth $15,113,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Bank & Trust Co bought a new position in shares of WEC Energy Group during the 4th quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group in the first quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $26,000. Valued Wealth Advisors LLC acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $28,000. Finally, First United Bank & Trust bought a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. KeyCorp upped their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, April 19th. The Goldman Sachs Group began coverage on WEC Energy Group in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Scotiabank cut their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets lifted their price target on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.92.

WEC Energy Group Stock Down 0.2 %

WEC stock traded down $0.18 during midday trading on Friday, hitting $78.27. The company’s stock had a trading volume of 781,426 shares, compared to its average volume of 2,143,940. The company’s fifty day moving average price is $81.52 and its 200 day moving average price is $81.15. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The stock has a market capitalization of $24.72 billion, a P/E ratio of 17.13, a PEG ratio of 2.02 and a beta of 0.42.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) 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.