Private Harbour Investment Management & Counsel LLC Reduces Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Private Harbour Investment Management & Counsel LLC decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,509 shares of the utilities provider’s stock after selling 132 shares during the period. Private Harbour Investment Management & Counsel LLC’s holdings in WEC Energy Group were worth $781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockland Trust Co. raised its stake in WEC Energy Group by 1,600.0% during the first quarter. Rockland Trust Co. now owns 111,265 shares of the utilities provider’s stock valued at $9,137,000 after buying an additional 104,720 shares during the last quarter. RFG Advisory LLC boosted its stake in WEC Energy Group by 2.2% in the 1st quarter. RFG Advisory LLC now owns 21,806 shares of the utilities provider’s stock worth $1,791,000 after purchasing an additional 479 shares in the last quarter. Triangle Securities Wealth Management purchased a new stake in WEC Energy Group during the 1st quarter valued at about $477,000. Lantz Financial LLC increased its stake in WEC Energy Group by 324.9% during the 1st quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock valued at $2,337,000 after purchasing an additional 21,758 shares in the last quarter. Finally, Keystone Financial Planning Inc. purchased a new position in WEC Energy Group in the first quarter worth about $7,116,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WEC shares. KeyCorp raised their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. The Goldman Sachs Group assumed coverage on WEC Energy Group in a report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. BMO Capital Markets lifted their price objective on WEC Energy Group from $89.00 to $90.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Scotiabank dropped their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.92.

View Our Latest Research Report on WEC

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $1.02 during midday trading on Friday, hitting $78.23. The company had a trading volume of 4,116,567 shares, compared to its average volume of 1,996,994. The company has a fifty day moving average of $81.53 and a two-hundred day moving average of $81.28. 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, Inc. has a 12-month low of $75.13 and a 12-month high of $93.37. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 2.05 and a beta of 0.42.

WEC Energy Group (NYSE:WECGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm earned $1.61 EPS. The company’s revenue was down 7.2% on a year-over-year basis. On average, equities research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

WEC Energy Group Profile

(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.

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

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