Nomura Asset Management Co. Ltd. Boosts Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Nomura Asset Management Co. Ltd. boosted its stake in WEC Energy Group, Inc. (NYSE:WECFree Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,384 shares of the utilities provider’s stock after buying an additional 574 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in WEC Energy Group were worth $7,860,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Balentine LLC boosted its stake in WEC Energy Group by 2.7% during the third quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock worth $395,000 after buying an additional 131 shares during the last quarter. N.E.W. Advisory Services LLC raised its stake in WEC Energy Group by 0.4% during the fourth quarter. N.E.W. Advisory Services LLC now owns 36,086 shares of the utilities provider’s stock worth $3,037,000 after purchasing an additional 132 shares during the period. Keystone Financial Group boosted its holdings in WEC Energy Group by 4.5% in the 4th quarter. Keystone Financial Group now owns 3,211 shares of the utilities provider’s stock valued at $270,000 after purchasing an additional 138 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of WEC Energy Group by 1.4% in the 3rd quarter. D.A. Davidson & CO. now owns 10,283 shares of the utilities provider’s stock valued at $828,000 after buying an additional 144 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in shares of WEC Energy Group by 2.1% during the 4th quarter. QRG Capital Management Inc. now owns 7,796 shares of the utilities provider’s stock worth $656,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WEC. 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 target price on the stock. JPMorgan Chase & Co. downgraded shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $90.00 to $84.00 in a research note on Friday, February 2nd. Barclays dropped their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Wells Fargo & Company decreased their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, KeyCorp lifted their price objective on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.29.

Get Our Latest Stock Report on WEC

Insiders Place Their Bets

In related news, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

WEC Energy Group Trading Down 1.2 %

NYSE:WEC opened at $79.72 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. The stock’s 50 day simple moving average is $81.93 and its 200-day simple moving average is $81.62. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37. The firm has a market cap of $25.18 billion, a P/E ratio of 17.41, a PEG ratio of 2.09 and a beta of 0.40.

WEC Energy Group (NYSE:WECGet Free Report) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.92 billion. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business’s 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 anticipate that WEC Energy Group, Inc. will post 4.86 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

About WEC Energy Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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