WEC Energy Group, Inc. $WEC Shares Sold by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,135 shares of the utilities provider’s stock after selling 5,026 shares during the period. N.E.W. Advisory Services LLC’s holdings in WEC Energy Group were worth $3,661,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in WEC. AlphaCore Capital LLC boosted its holdings in shares of WEC Energy Group by 32.3% in the second quarter. AlphaCore Capital LLC now owns 10,333 shares of the utilities provider’s stock worth $1,077,000 after buying an additional 2,525 shares during the period. Richmond Investment Services LLC boosted its stake in WEC Energy Group by 92.8% in the 2nd quarter. Richmond Investment Services LLC now owns 11,773 shares of the utilities provider’s stock worth $1,227,000 after purchasing an additional 5,666 shares during the period. Legal & General Group Plc grew its position in 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 purchasing an additional 162,963 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in WEC Energy Group during the 2nd quarter valued at $240,000. Finally, Greenland Capital Management LP purchased a new stake in shares of WEC Energy Group in the second quarter valued at $13,317,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 0.4%

Shares of NYSE WEC opened at $103.86 on Friday. The business has a 50 day simple moving average of $111.96 and a 200 day simple moving average of $109.13. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.18. The stock has a market cap of $33.79 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. The firm 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%. On average, research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 13th will be issued a $0.9525 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.89. This represents a $3.81 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, February 13th. WEC Energy Group’s dividend payout ratio is currently 67.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WEC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Monday, December 8th. TD Cowen initiated coverage on WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 target price on the stock. Citigroup started coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price target for the company. Cowen assumed coverage on shares of WEC Energy Group in a research report on Wednesday, October 15th. They set a “hold” rating on the stock. Finally, Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.85.

About WEC Energy Group

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.