WEC Energy Group Inc (NYSE:WEC) Sees Significant Drop in Short Interest

WEC Energy Group Inc (NYSE:WEC) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 8,360,000 shares, a decrease of 14.9% from the January 15th total of 9,820,000 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is presently 5.8 days.

WEC stock opened at $101.87 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $32.13 billion and a price-to-earnings ratio of 28.46. WEC Energy Group has a 12 month low of $74.10 and a 12 month high of $102.11. The firm has a 50 day moving average of $96.14 and a two-hundred day moving average of $92.62.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, January 30th. The utilities provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.20 billion. WEC Energy Group had a net margin of 15.08% and a return on equity of 11.18%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, research analysts expect that WEC Energy Group will post 3.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be given a $0.6325 dividend. This represents a $2.53 annualized dividend and a yield of 2.48%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, February 13th. WEC Energy Group’s payout ratio is currently 65.92%.

A number of hedge funds have recently bought and sold shares of WEC. TFO TDC LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth $29,000. Savior LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth $30,000. ERTS Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth $30,000. Ancora Advisors LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth $32,000. Finally, Quest Capital Management Inc. ADV bought a new stake in shares of WEC Energy Group during the 3rd quarter worth $35,000. 76.89% of the stock is owned by institutional investors.

Several research analysts have weighed in on WEC shares. Argus reiterated a “buy” rating on shares of WEC Energy Group in a research note on Tuesday, January 14th. Wells Fargo & Co upped their price objective on shares of WEC Energy Group from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup upped their price objective on shares of WEC Energy Group from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Credit Suisse Group dropped their price objective on shares of WEC Energy Group from $85.00 to $81.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. WEC Energy Group currently has an average rating of “Hold” and an average target price of $88.27.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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.

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