Ashton Thomas Private Wealth LLC Has $2.16 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Ashton Thomas Private Wealth LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,278 shares of the utilities provider’s stock after acquiring an additional 2,185 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in WEC Energy Group were worth $2,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WEC. Gotham Asset Management LLC increased its position in WEC Energy Group by 64.0% in the 3rd quarter. Gotham Asset Management LLC now owns 20,813 shares of the utilities provider’s stock valued at $1,676,000 after acquiring an additional 8,123 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of WEC Energy Group in the third quarter valued at approximately $242,000. JPMorgan Chase & Co. raised its position in WEC Energy Group by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock worth $346,021,000 after purchasing an additional 142,412 shares during the last quarter. Sei Investments Co. lifted its holdings in WEC Energy Group by 37.5% during the 3rd quarter. Sei Investments Co. now owns 395,762 shares of the utilities provider’s stock worth $31,879,000 after buying an additional 107,879 shares in the last quarter. Finally, Alethea Capital Management LLC acquired a new position in WEC Energy Group during the 3rd quarter worth $427,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $77.85 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The business has a 50-day moving average of $80.98 and a 200-day moving average of $80.88. The stock has a market capitalization of $24.59 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.01 and a beta of 0.41. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $93.37.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $1.61 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.835 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.29%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WEC shares. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp boosted their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. BMO Capital Markets upped their price objective on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Finally, Scotiabank decreased their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average price target of $85.92.

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.