Albion Financial Group UT Grows Stake in WEC Energy Group, Inc. (NYSE:WEC)

Albion Financial Group UT grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 51,679 shares of the utilities provider’s stock after buying an additional 1,087 shares during the quarter. Albion Financial Group UT’s holdings in WEC Energy Group were worth $4,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $26,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $28,000. Finally, First United Bank & Trust purchased a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WEC shares. 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 report on Thursday, May 2nd. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. The Goldman Sachs Group started coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price for the company. Scotiabank reduced their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Finally, KeyCorp lifted their target price on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.92.

WEC Energy Group Stock Performance

NYSE WEC traded down $0.36 on Wednesday, hitting $77.68. 651,811 shares of the company traded hands, compared to its average volume of 2,131,177. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.03 and a beta of 0.41. 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 business’s 50 day moving average price is $81.25 and its 200-day moving average price is $80.95. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $93.37.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion for 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%. WEC Energy Group’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share. Equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were given a dividend of $0.835 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.30%. 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.