Wealthspire Advisors LLC Increases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Wealthspire Advisors LLC grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,527 shares of the utilities provider’s stock after buying an additional 327 shares during the quarter. Wealthspire Advisors LLC’s holdings in WEC Energy Group were worth $896,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Marshall Investment Management LLC acquired a new position in WEC Energy Group during the 4th quarter worth $422,000. First Horizon Advisors Inc. boosted its stake in shares of WEC Energy Group by 30.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,254 shares of the utilities provider’s stock valued at $118,000 after buying an additional 290 shares during the period. Redmond Asset Management LLC acquired a new position in shares of WEC Energy Group during the fourth quarter worth about $442,000. Turning Point Benefit Group Inc. purchased a new stake in shares of WEC Energy Group during the fourth quarter worth approximately $244,000. Finally, Dahring Cusmano LLC acquired a new stake in WEC Energy Group in the fourth quarter valued at approximately $273,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.44% of the company’s stock.

WEC Energy Group Stock Up 1.1 %

Shares of NYSE WEC opened at $106.07 on Wednesday. The business has a 50-day moving average price of $98.19 and a 200 day moving average price of $96.69. The stock has a market cap of $33.55 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $106.75.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion during 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 was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.15%. WEC Energy Group’s dividend payout ratio is presently 73.91%.

Analysts Set New Price Targets

Several research analysts have commented on WEC shares. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Scotiabank increased their price objective on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $101.88.

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.