IFP Advisors Inc Increases Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

IFP Advisors Inc lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,978 shares of the utilities provider’s stock after buying an additional 1,250 shares during the period. IFP Advisors Inc’s holdings in WEC Energy Group were worth $1,221,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Coastline Trust Co acquired a new stake in WEC Energy Group during the third quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth approximately $45,000. Human Investing LLC purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $52,000. Bank of Jackson Hole Trust acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $59,000. Finally, Kestra Investment Management LLC acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $61,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.4 %

Shares of NYSE WEC opened at $105.50 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a 1 year low of $76.50 and a 1 year high of $106.75. The stock’s 50-day simple moving average is $98.44 and its 200-day simple moving average is $96.75. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.60 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 annualized dividend and a yield of 3.17%. WEC Energy Group’s dividend payout ratio is presently 73.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. BMO Capital Markets increased their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Wells Fargo & Company increased their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.88.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.44% of the stock is currently owned by insiders.

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.