Panagora Asset Management Inc. Has $1.82 Million Holdings in WEC Energy Group, Inc. $WEC

Panagora Asset Management Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 23.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,454 shares of the utilities provider’s stock after selling 5,204 shares during the quarter. Panagora Asset Management Inc.’s holdings in WEC Energy Group were worth $1,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nuveen LLC acquired a new stake in shares of WEC Energy Group in the first quarter valued at approximately $403,372,000. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after acquiring an additional 1,349,522 shares during the period. Vanguard Group Inc. raised its holdings in WEC Energy Group by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock valued at $4,162,348,000 after acquiring an additional 816,243 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after acquiring an additional 726,267 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 665,681 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

WEC stock opened at $106.32 on Friday. The company has a market capitalization of $34.58 billion, a P/E ratio of 20.10, a PEG ratio of 2.71 and a beta of 0.56. The company has a fifty day moving average price of $113.04 and a 200-day moving average price of $109.22. 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, Inc. has a 52-week low of $91.94 and a 52-week high of $118.18.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The business 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%. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, November 14th. WEC Energy Group’s payout ratio is currently 67.49%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WEC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a research report on Monday. Royal Bank Of Canada set a $131.00 price target on shares of WEC Energy Group in a report on Monday, October 27th. LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Cowen assumed coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating for the company. Finally, BMO Capital Markets upped their target price on WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.

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.