Investment Management Corp of Ontario Has $3.90 Million Stake in WEC Energy Group, Inc. $WEC

Investment Management Corp of Ontario reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 58.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,396 shares of the utilities provider’s stock after selling 52,355 shares during the quarter. Investment Management Corp of Ontario’s holdings in WEC Energy Group were worth $3,897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in WEC Energy Group by 23.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,581 shares of the utilities provider’s stock valued at $4,858,000 after purchasing an additional 8,397 shares in the last quarter. Entropy Technologies LP bought a new position in shares of WEC Energy Group in the 1st quarter valued at $578,000. Independent Advisor Alliance raised its holdings in shares of WEC Energy Group by 2.8% during the 1st quarter. Independent Advisor Alliance now owns 22,326 shares of the utilities provider’s stock worth $2,433,000 after buying an additional 602 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of WEC Energy Group by 3.5% during the 1st quarter. Public Sector Pension Investment Board now owns 84,928 shares of the utilities provider’s stock worth $9,255,000 after buying an additional 2,874 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of WEC Energy Group by 106.6% during the 1st quarter. HighTower Advisors LLC now owns 235,412 shares of the utilities provider’s stock worth $25,655,000 after buying an additional 121,485 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.9%

Shares of NYSE WEC opened at $103.71 on Thursday. The firm has a 50 day moving average price of $112.32 and a two-hundred day moving average price of $109.18. The stock has a market cap of $33.73 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 2.64 and a beta of 0.56. WEC Energy Group, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The company had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 13th will be paid a $0.9525 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.89. This represents a $3.81 annualized dividend and a dividend yield of 3.7%. WEC Energy Group’s payout ratio is currently 67.49%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WEC shares. Royal Bank Of Canada set a $131.00 target price on WEC Energy Group in a research report on Monday, October 27th. TD Cowen initiated coverage on shares of WEC Energy Group in a research report on Thursday, October 16th. They set a “hold” rating and a $125.00 price objective for the company. Wells Fargo & Company began coverage on shares of WEC Energy Group in a research report on Monday, October 27th. They issued an “overweight” rating and a $124.00 target price on the stock. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Monday. 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.21.

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.