Synergy Asset Management LLC Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Synergy Asset Management LLC lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 15.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,605 shares of the utilities provider’s stock after selling 6,269 shares during the quarter. Synergy Asset Management LLC’s holdings in WEC Energy Group were worth $2,760,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC lifted its stake in WEC Energy Group by 0.4% in the 4th quarter. N.E.W. Advisory Services LLC now owns 36,086 shares of the utilities provider’s stock valued at $3,037,000 after buying an additional 132 shares in the last quarter. Diversified Trust Co lifted its holdings in WEC Energy Group by 2.7% in the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 134 shares in the last quarter. MPS Loria Financial Planners LLC increased its stake in WEC Energy Group by 2.1% in the first quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock valued at $551,000 after purchasing an additional 135 shares during the last quarter. Keystone Financial Group increased its position in WEC Energy Group by 4.5% during the fourth quarter. Keystone Financial Group now owns 3,211 shares of the utilities provider’s stock worth $270,000 after purchasing an additional 138 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of WEC Energy Group by 2.1% in the 4th quarter. QRG Capital Management Inc. now owns 7,796 shares of the utilities provider’s stock worth $656,000 after purchasing an additional 164 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of WEC traded up $0.23 during trading hours on Tuesday, hitting $77.92. 464,776 shares of the company were exchanged, compared to its average volume of 2,137,177. The firm has a fifty day simple moving average of $81.42 and a 200-day simple moving average of $81.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The company has a market capitalization of $24.61 billion, a PE ratio of 16.96, a PEG ratio of 2.03 and a beta of 0.41. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $93.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The business 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 revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Wall Street Analyst Weigh In

WEC has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target for the company. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Scotiabank decreased their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. KeyCorp increased 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. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group 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.