Geode Capital Management LLC Grows Holdings in WEC Energy Group, Inc. $WEC

by · The Cerbat Gem

Geode Capital Management LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,594,608 shares of the utilities provider’s stock after buying an additional 235,653 shares during the quarter. Geode Capital Management LLC owned approximately 2.67% of WEC Energy Group worth $892,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WEC. Wealth Alliance LLC boosted its holdings in shares of WEC Energy Group by 0.8% in the 2nd quarter. Wealth Alliance LLC now owns 14,525 shares of the utilities provider’s stock valued at $1,513,000 after buying an additional 118 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $319,000. KBC Group NV lifted its holdings in shares of WEC Energy Group by 25.3% in the 2nd quarter. KBC Group NV now owns 32,983 shares of the utilities provider’s stock valued at $3,437,000 after purchasing an additional 6,652 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of WEC Energy Group by 0.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 276,751 shares of the utilities provider’s stock valued at $28,837,000 after purchasing an additional 1,635 shares during the period. Finally, National Pension Service grew its stake in WEC Energy Group by 1.0% during the 2nd quarter. National Pension Service now owns 368,222 shares of the utilities provider’s stock worth $38,369,000 after buying an additional 3,563 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC opened at $111.60 on Friday. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $118.18. The company’s 50 day simple moving average is $112.82 and its 200 day simple moving average is $108.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The company has a market capitalization of $36.30 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 3.16 and a beta of 0.48.

WEC Energy Group (NYSE:WEC – Get Free Report) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The firm had revenue of $2.28 billion during the quarter. On average, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s payout ratio is presently 67.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WEC shares. Wells Fargo & Company began coverage on shares of WEC Energy Group in a research note on Monday, October 27th. They set an “overweight” rating and a $124.00 price target for the company. UBS Group increased their target price on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. TD Cowen started coverage on WEC Energy Group in a research report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target on the stock. Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Citigroup began coverage on WEC Energy Group in a report on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.

Check Out Our Latest Report on WEC

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.

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