CANADA LIFE ASSURANCE Co Has $13.47 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

CANADA LIFE ASSURANCE Co cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,024 shares of the utilities provider’s stock after selling 679 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.05% of WEC Energy Group worth $13,473,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WEC shares. Barclays upped their price objective on shares of WEC Energy Group from $78.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Wednesday. The Goldman Sachs Group began coverage on shares of WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price for the company. KeyCorp dropped their target price on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Monday. Finally, BMO Capital Markets dropped their target price on shares of WEC Energy Group from $90.00 to $87.00 and set a “market perform” rating for the company in a report on Monday. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus target price of $86.00.

WEC Energy Group Trading Down 0.5 %

NYSE WEC traded down $0.43 during trading hours on Thursday, reaching $83.13. The company’s stock had a trading volume of 1,311,804 shares, compared to its average volume of 2,097,349. The firm has a fifty day simple moving average of $80.13 and a 200-day simple moving average of $80.54. The stock has a market cap of $26.25 billion, a P/E ratio of 18.20, a P/E/G ratio of 2.11 and a beta of 0.41. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week 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.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. Equities analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

About WEC Energy Group

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.