WEC Energy Group, Inc. $WEC Holdings Cut by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,508 shares of the utilities provider’s stock after selling 38,397 shares during the period. Hudson Bay Capital Management LP’s holdings in WEC Energy Group were worth $12,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Verdence Capital Advisors LLC boosted its position in WEC Energy Group by 1.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock valued at $595,000 after purchasing an additional 92 shares during the period. MTM Investment Management LLC lifted its stake in WEC Energy Group by 3.6% in the second quarter. MTM Investment Management LLC now owns 2,720 shares of the utilities provider’s stock valued at $283,000 after buying an additional 95 shares during the last quarter. Liberty Capital Management Inc. boosted its holdings in shares of WEC Energy Group by 3.8% during the second quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 97 shares during the period. Sound View Wealth Advisors Group LLC grew its position in shares of WEC Energy Group by 1.2% during the second quarter. Sound View Wealth Advisors Group LLC now owns 8,281 shares of the utilities provider’s stock worth $863,000 after acquiring an additional 97 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of WEC Energy Group by 13.5% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 840 shares of the utilities provider’s stock worth $88,000 after acquiring an additional 100 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $103.86 on Monday. The stock has a market cap of $33.79 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18. The stock’s 50 day moving average price is $111.96 and its 200 day moving average price is $109.16.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The company had revenue of $2.28 billion for the quarter. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 13th will be given a dividend of $0.9525 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date is Friday, February 13th. This represents a $3.81 annualized dividend and a dividend yield of 3.7%. WEC Energy Group’s payout ratio is 67.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WEC shares. Citigroup initiated coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 target price for the company. JPMorgan Chase & Co. cut their price target on WEC Energy Group from $121.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday. BTIG Research raised WEC Energy Group to a “strong-buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company started coverage on WEC Energy Group in a research report on Monday, October 27th. They issued an “overweight” rating and a $124.00 target price on the stock. Finally, LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.85.

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.