ProShare Advisors LLC Grows Stock Holdings in WEC Energy Group, Inc. $WEC

by · The Markets Daily

ProShare Advisors LLC increased its stake in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,716 shares of the utilities provider’s stock after buying an additional 6,701 shares during the period. ProShare Advisors LLC’s holdings in WEC Energy Group were worth $5,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its stake in shares of WEC Energy Group by 1.6% in the second quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock worth $595,000 after acquiring an additional 92 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in shares of WEC Energy Group by 14.3% during the 1st quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 93 shares during the last quarter. Liberty Capital Management Inc. grew its stake in shares of WEC Energy Group by 3.8% in the second quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 97 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in WEC Energy Group by 1.2% in the second quarter. Sound View Wealth Advisors Group LLC now owns 8,281 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 97 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position in WEC Energy Group by 13.5% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 840 shares of the utilities provider’s stock worth $88,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

WEC has been the subject of several research reports. Mizuho set a $125.00 price target on shares of WEC Energy Group in a research report on Monday, October 27th. KeyCorp lifted their price target on shares of WEC Energy Group from $110.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group boosted their price target on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Wells Fargo & Company started coverage on WEC Energy Group in a research note on Monday, October 27th. They issued an “overweight” rating and a $124.00 price objective on the stock. Finally, Scotiabank increased their target price on shares of WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, WEC Energy Group currently has a consensus rating of “Moderate Buy” and an average price target of $120.21.

Check Out Our Latest Stock Analysis on WEC

WEC Energy Group Stock Performance

NYSE WEC opened at $111.60 on Friday. The firm has a market cap of $36.30 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $112.82 and a 200-day moving average price of $108.90. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18.

WEC Energy Group (NYSE:WEC – Get Free Report) last issued its 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. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

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 given a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio is currently 67.49%.

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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