Bleakley Financial Group LLC Acquires 491 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Bleakley Financial Group LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,767 shares of the utilities provider’s stock after purchasing an additional 491 shares during the quarter. Bleakley Financial Group LLC’s holdings in WEC Energy Group were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter valued at $25,000. Tennessee Valley Asset Management Partners purchased a new stake in WEC Energy Group during the fourth quarter valued at $26,000. First United Bank & Trust purchased a new stake in WEC Energy Group during the fourth quarter valued at $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in WEC Energy Group during the first quarter valued at $32,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $82.36 on Thursday. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37. The business has a 50-day moving average price of $80.42 and a 200 day moving average price of $80.67. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The firm has a market cap of $26.01 billion, a PE ratio of 17.98, a P/E/G ratio of 2.09 and a beta of 0.41.

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 analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WEC has been the subject of a number of analyst reports. KeyCorp upped their price target on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. The Goldman Sachs Group began coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Scotiabank lowered their price objective 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 raised their price objective on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Three 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’s stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $85.92.

WEC Energy Group 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.