London & Capital Asset Management Ltd Has $2.22 Million Stock Holdings in WEC Energy Group, Inc. $WEC

London & Capital Asset Management Ltd trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 47.7% during the second quarter, Holdings Channel reports. The firm owned 21,267 shares of the utilities provider’s stock after selling 19,424 shares during the quarter. London & Capital Asset Management Ltd’s holdings in WEC Energy Group were worth $2,216,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Richmond Investment Services LLC raised its stake in WEC Energy Group by 92.8% in the second quarter. Richmond Investment Services LLC now owns 11,773 shares of the utilities provider’s stock valued at $1,227,000 after buying an additional 5,666 shares during the period. AlphaCore Capital LLC increased its holdings in shares of WEC Energy Group by 32.3% during the 2nd quarter. AlphaCore Capital LLC now owns 10,333 shares of the utilities provider’s stock worth $1,077,000 after acquiring an additional 2,525 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of WEC Energy Group by 6.7% during the 2nd quarter. Legal & General Group Plc now owns 2,609,802 shares of the utilities provider’s stock worth $271,941,000 after acquiring an additional 162,963 shares during the last quarter. Drive Wealth Management LLC bought a new stake in WEC Energy Group in the 2nd quarter valued at $240,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in WEC Energy Group during the 2nd quarter valued at $389,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $104.68 on Tuesday. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $118.18. The company’s 50 day moving average price is $112.71 and its two-hundred day moving average price is $109.23. The firm has a market cap of $34.05 billion, a PE ratio of 19.79, a PEG ratio of 2.67 and a beta of 0.56. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29.

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. 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%. Equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 13th will be issued a dividend of $0.9525 per share. 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. This represents a $3.81 annualized dividend and a dividend yield of 3.6%. WEC Energy Group’s payout ratio is currently 67.49%.

Analysts Set New Price Targets

WEC has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, October 21st. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Wells Fargo & Company started coverage on shares of WEC Energy Group in a report on Monday, October 27th. They issued an “overweight” rating and a $124.00 price target on the stock. Scotiabank boosted their price objective on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Barclays increased their target price on WEC Energy Group from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group currently has an average 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.