Osaic Holdings Inc. Acquires 31,234 Shares of WEC Energy Group, Inc. $WEC

Osaic Holdings Inc. raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 17.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,607 shares of the utilities provider’s stock after buying an additional 31,234 shares during the period. Osaic Holdings Inc.’s holdings in WEC Energy Group were worth $22,103,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Truvestments Capital LLC purchased a new stake in WEC Energy Group during the 1st quarter valued at about $25,000. Nova Wealth Management Inc. bought a new stake in WEC Energy Group in the first quarter valued at approximately $26,000. Bayforest Capital Ltd purchased a new stake in shares of WEC Energy Group during the second quarter valued at approximately $26,000. CoreFirst Bank & Trust purchased a new stake in shares of WEC Energy Group during the second quarter valued at approximately $26,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of WEC Energy Group in the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WEC shares. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Cowen began coverage on shares of WEC Energy Group in a report on Wednesday, October 15th. They set a “hold” rating for the company. Scotiabank boosted their price target on WEC Energy Group from $129.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Monday. Finally, Barclays cut their price objective on WEC Energy Group from $110.00 to $105.00 and set an “underweight” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $120.92.

WEC Energy Group Price Performance

WEC stock opened at $104.76 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $118.18. The firm has a 50-day moving average of $111.37 and a 200 day moving average of $109.10. The company has a market cap of $34.08 billion, a P/E ratio of 19.80, a PEG ratio of 2.64 and a beta of 0.56.

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

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 13th will be issued a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.6%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date is Friday, February 13th. WEC Energy Group’s dividend payout ratio is currently 67.49%.

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.