Daiwa Securities Group Inc. has increased its stake in WEC Energy Group, Inc. (WEC:NYE) by 5.8% in Q4, according to the company’s recent SEC 13F filing. The Japanese firm now owns 22,132 shares of the WEC stock, up from 20,912 shares previously, after purchasing an additional 1,220 shares during the quarter. The total value of Daiwa Securities Group’s holdings in WEC Energy Group is now $2,075,000.
Hedge Funds & Institutional Holdings:
Several other hedge funds have also recently increased their positions in the company, including Kentucky Retirement Systems, Advisors Capital Management LLC, Capital Advisors Inc. OK, Mission Wealth Management LP, and Moisand Fitzgerald Tamayo LLC. Institutional investors now hold 74.05% of the WEC stock.
WEC Stock Price Analysis:
WEC Energy Group’s stock opened at $95.94 on Tuesday and has a market cap of $30.26 billion, with a price-to-earnings ratio of 21.51 and a beta of 0.40. The company’s 50-day moving average price is $93.74 and its 200-day moving average price is $93.59. Its 12-month low is $80.82 and its 12-month high is $108.39.
Quarterly Earnings Review:
On May 1st, WEC Energy Group announced its quarterly earnings results, reporting $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.90 billion. Despite the positive results, the stock fell 0.2% on Tuesday.
WEC Stock Dividend:
The company also declared a quarterly dividend on its stock, to be paid on June 1st to investors of record on May 12th. The dividend will be $0.78 per share, representing an annualized dividend of $3.12 and a yield of 3.25%.
WEC Stock-Analyst Ratings:
Wells Fargo & Company, and JPMorgan Chase & Co. have recently given their ratings and price targets on the stock, with the average rating currently at “Buy” and an average price target of $102.00.
WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
The company was formerly known as Wisconsin Energy Corporation and changed its name to WEC Energy Group, Inc. in June 2015. WEC Energy Group, Inc. was founded in 1896 and is headquartered in Milwaukee, Wisconsin.