EverSource Wealth Advisors LLC Has $67,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

EverSource Wealth Advisors LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 49.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 807 shares of the utilities provider’s stock after purchasing an additional 267 shares during the period. EverSource Wealth Advisors LLC’s holdings in WEC Energy Group were worth $67,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WEC. Northern Trust Corp increased its holdings in shares of WEC Energy Group by 2.9% during the fourth quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock worth $342,669,000 after buying an additional 116,219 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of WEC Energy Group by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock worth $149,635,000 after acquiring an additional 51,540 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of WEC Energy Group by 36.0% during the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock valued at $143,557,000 after acquiring an additional 462,646 shares during the period. Envestnet Asset Management Inc. boosted its holdings in WEC Energy Group by 93.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after acquiring an additional 803,718 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in WEC Energy Group in the first quarter worth about $127,945,000. Institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

WEC has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. The Goldman Sachs Group started coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price objective for the company. KeyCorp decreased their price objective on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Scotiabank decreased their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.31.

WEC Energy Group Stock Performance

NYSE WEC traded up $0.78 during trading on Tuesday, reaching $88.97. 1,179,573 shares of the company’s stock were exchanged, compared to its average volume of 2,168,982. The business has a 50 day moving average price of $80.64 and a 200-day moving average price of $80.70. The stock has a market capitalization of $28.12 billion, a P/E ratio of 19.35, a PEG ratio of 2.33 and a beta of 0.41. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.42. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $92.23.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is currently 72.93%.

WEC Energy Group Company Profile

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.