Carret Asset Management LLC Sells 1,300 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Carret Asset Management LLC decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,100 shares of the utilities provider’s stock after selling 1,300 shares during the period. Carret Asset Management LLC’s holdings in WEC Energy Group were worth $501,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WEC. Gotham Asset Management LLC boosted its stake in WEC Energy Group by 64.0% during the third quarter. Gotham Asset Management LLC now owns 20,813 shares of the utilities provider’s stock valued at $1,676,000 after buying an additional 8,123 shares during the period. Axxcess Wealth Management LLC bought a new stake in WEC Energy Group during the third quarter valued at $242,000. Earnest Partners LLC boosted its stake in WEC Energy Group by 12.8% during the third quarter. Earnest Partners LLC now owns 1,053,231 shares of the utilities provider’s stock valued at $84,838,000 after buying an additional 119,886 shares during the period. JPMorgan Chase & Co. boosted its stake in WEC Energy Group by 3.4% during the third quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock valued at $346,021,000 after buying an additional 142,412 shares during the period. Finally, Sei Investments Co. boosted its stake in WEC Energy Group by 37.5% during the third quarter. Sei Investments Co. now owns 395,762 shares of the utilities provider’s stock valued at $31,879,000 after buying an additional 107,879 shares during the period. Institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WEC shares. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Scotiabank lowered their price target on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. The Goldman Sachs Group started coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. KeyCorp raised their price target on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets raised their price target on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.92.

WEC Energy Group Stock Down 0.4 %

WEC opened at $77.69 on Thursday. The company has a market cap of $24.54 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.02 and a beta of 0.41. The business’s 50-day moving average price is $81.25 and its 200-day moving average price is $80.95. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $93.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were issued a dividend of $0.835 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.30%. WEC Energy Group’s dividend payout ratio is presently 72.93%.

WEC Energy Group Company 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.