Marshall Investment Management LLC Takes $422,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Marshall Investment Management LLC acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,383 shares of the utilities provider’s stock, valued at approximately $422,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WEC. Mizuho Securities USA LLC increased its position in WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Geode Capital Management LLC increased its position in WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after purchasing an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. increased its position in WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares during the last quarter. Wellington Management Group LLP increased its position in WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after purchasing an additional 1,912,223 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Finally, Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average target price of $101.88.

WEC Energy Group Stock Up 0.5 %

Shares of WEC opened at $104.04 on Friday. The firm has a market capitalization of $32.91 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 12-month low of $76.50 and a 12-month high of $104.98. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm has a fifty day moving average price of $97.76 and a 200-day moving average price of $96.39.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 earnings per share. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is currently 73.91%.

About WEC Energy Group

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.