Wealth Alliance Increases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Wealth Alliance lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,090 shares of the utilities provider’s stock after acquiring an additional 110 shares during the period. Wealth Alliance’s holdings in WEC Energy Group were worth $1,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Financial Group LLC boosted its stake in shares of WEC Energy Group by 4.8% in the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock valued at $207,000 after buying an additional 100 shares during the period. Tsfg LLC lifted its stake in WEC Energy Group by 4.6% during the fourth quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock worth $254,000 after purchasing an additional 119 shares during the last quarter. Concord Wealth Partners lifted its stake in WEC Energy Group by 20.7% during the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 133 shares during the last quarter. TrinityPoint Wealth LLC lifted its stake in WEC Energy Group by 1.3% during the third quarter. TrinityPoint Wealth LLC now owns 10,755 shares of the utilities provider’s stock worth $1,034,000 after purchasing an additional 134 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in WEC Energy Group by 4.7% during the third quarter. Synovus Financial Corp now owns 2,980 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 135 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WEC. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Scotiabank boosted their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. BMO Capital Markets boosted their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Finally, KeyCorp boosted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.88.

WEC Energy Group Trading Up 0.4 %

NYSE:WEC opened at $103.54 on Thursday. The firm has a market cap of $32.75 billion, a P/E ratio of 21.44, a PEG ratio of 2.59 and a beta of 0.49. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $97.44 and its 200-day simple moving average is $96.17. WEC Energy Group, Inc. has a 12-month low of $76.50 and a 12-month high of $104.15.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The company 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%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s payout ratio is currently 73.91%.

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.