Two Sigma Investments LP Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Two Sigma Investments LP raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 992.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,419 shares of the utilities provider’s stock after buying an additional 349,219 shares during the quarter. Two Sigma Investments LP’s holdings in WEC Energy Group were worth $36,151,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in WEC Energy Group during the fourth quarter valued at $28,000. Hoey Investments Inc. bought a new position in WEC Energy Group during the fourth quarter valued at $42,000. Human Investing LLC purchased a new position in shares of WEC Energy Group in the 4th quarter worth $52,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after buying an additional 345 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $107.50 on Wednesday. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a market cap of $34.31 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The business has a 50-day simple moving average of $107.02 and a 200-day simple moving average of $101.87.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business earned $1.97 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.8975 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is currently 69.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WEC shares. Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Barclays lifted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 29th. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.13.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.