Mitsubishi UFJ Asset Management Co. Ltd. Buys 46,911 Shares of WEC Energy Group, Inc. $WEC

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 611,329 shares of the utilities provider’s stock after buying an additional 46,911 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of WEC Energy Group worth $63,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Verdence Capital Advisors LLC raised its stake in shares of WEC Energy Group by 1.6% in the second quarter. Verdence Capital Advisors LLC now owns 5,712 shares of the utilities provider’s stock worth $595,000 after buying an additional 92 shares during the period. Manchester Capital Management LLC grew its position in shares of WEC Energy Group by 14.3% during the first quarter. Manchester Capital Management LLC now owns 744 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 93 shares in the last quarter. Liberty Capital Management Inc. increased its stake in WEC Energy Group by 3.8% in the 2nd quarter. Liberty Capital Management Inc. now owns 2,649 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 97 shares during the last quarter. Louisiana State Employees Retirement System increased its position in WEC Energy Group by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the utilities provider’s stock worth $1,864,000 after purchasing an additional 100 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of WEC Energy Group by 13.5% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 840 shares of the utilities provider’s stock valued at $88,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Citigroup initiated coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 price objective for the company. Finally, Mizuho set a $125.00 price objective on WEC Energy Group in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.21.

WEC Energy Group Stock Performance

NYSE WEC opened at $112.85 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The company has a market cap of $36.71 billion, a P/E ratio of 21.33, a P/E/G ratio of 3.18 and a beta of 0.48. The stock has a 50-day moving average of $112.39 and a two-hundred day moving average of $108.80. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year 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 EPS for the quarter. The business had revenue of $2.28 billion during the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. As a group, analysts anticipate 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 will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio is currently 67.49%.

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.