Westwood Holdings Group Inc. Has $102.91 Million Holdings in WEC Energy Group, Inc. $WEC

Westwood Holdings Group Inc. cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 987,623 shares of the utilities provider’s stock after selling 62,823 shares during the period. Westwood Holdings Group Inc. owned about 0.31% of WEC Energy Group worth $102,910,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in WEC Energy Group by 2.1% in the second quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock worth $4,162,348,000 after purchasing an additional 816,243 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock valued at $77,290,000 after buying an additional 665,681 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of WEC Energy Group by 324.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider’s stock worth $80,722,000 after acquiring an additional 592,028 shares during the period. Marshall Wace LLP boosted its position in shares of WEC Energy Group by 160.6% during the 2nd quarter. Marshall Wace LLP now owns 943,962 shares of the utilities provider’s stock valued at $98,361,000 after acquiring an additional 581,748 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in WEC Energy Group by 40.0% in the first quarter. Bahl & Gaynor Inc. now owns 1,319,511 shares of the utilities provider’s stock valued at $143,800,000 after acquiring an additional 376,960 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 stock opened at $103.86 on Friday. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.18. The stock has a market capitalization of $33.79 billion, a PE ratio of 19.63, a PEG ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The stock’s fifty day moving average is $111.96 and its 200-day moving average is $109.13.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The business had revenue of $2.28 billion for the quarter. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal 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 dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a dividend yield of 3.7%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, February 13th. WEC Energy Group’s payout ratio is currently 67.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Mizuho set a $125.00 target price on WEC Energy Group in a report on Monday, October 27th. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their target price on shares of WEC Energy Group from $121.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company began coverage on shares of WEC Energy Group in a report on Monday, October 27th. They set an “overweight” rating and a $124.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.85.

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.