Syon Capital LLC Makes New $274,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Syon Capital LLC bought a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,250 shares of the utilities provider’s stock, valued at approximately $274,000.

Several other large investors also recently made changes to their positions in WEC. Deutsche Bank AG lifted its position in shares of WEC Energy Group by 3.0% during the 3rd quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock worth $442,697,000 after buying an additional 158,652 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of WEC Energy Group by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock worth $346,021,000 after purchasing an additional 142,412 shares during the period. Invesco Ltd. grew its stake in WEC Energy Group by 3.8% in the 3rd quarter. Invesco Ltd. now owns 4,216,264 shares of the utilities provider’s stock valued at $339,620,000 after buying an additional 155,437 shares in the last quarter. Morgan Stanley grew its position in shares of WEC Energy Group by 1.4% during the 3rd quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider’s stock valued at $270,179,000 after purchasing an additional 44,797 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in WEC Energy Group by 2.2% in the third quarter. Principal Financial Group Inc. now owns 1,851,616 shares of the utilities provider’s stock worth $149,148,000 after acquiring an additional 40,603 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In related news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WEC has been the subject of several recent analyst reports. The Goldman Sachs Group began coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company. KeyCorp upped their price objective on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Bank of America restated an “underperform” rating and issued a $78.00 price objective (down previously from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Scotiabank cut their price objective on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Finally, Wells Fargo & Company cut their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average target price of $86.64.

WEC Energy Group Stock Down 1.6 %

Shares of WEC stock opened at $81.49 on Friday. The company has a market capitalization of $25.70 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.82 and a beta of 0.40. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $97.34. The company’s fifty day moving average price is $80.25 and its 200-day moving average price is $81.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s revenue was down 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. Sell-side analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Monday, May 13th. This represents a $3.34 annualized dividend and a yield of 4.10%. WEC Energy Group’s payout ratio is 79.15%.

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.