Cetera Investment Advisers Cuts Position in WEC Energy Group, Inc. $WEC

Cetera Investment Advisers reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,114 shares of the utilities provider’s stock after selling 18,021 shares during the period. Cetera Investment Advisers’ holdings in WEC Energy Group were worth $14,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new position in WEC Energy Group during the 1st quarter worth about $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group during the first quarter worth about $26,000. Bayforest Capital Ltd acquired a new stake in shares of WEC Energy Group during the second quarter worth about $26,000. New England Capital Financial Advisors LLC grew its holdings in shares of WEC Energy Group by 265.8% in the second quarter. New England Capital Financial Advisors LLC now owns 278 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 202 shares in the last quarter. Finally, NewSquare Capital LLC grew its holdings in shares of WEC Energy Group by 60.5% in the second quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. KeyCorp raised their price target on shares of WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Thursday, November 13th. Citigroup assumed coverage on WEC Energy Group in a research note on Friday, October 3rd. They set a “buy” rating and a $131.00 target price for the company. UBS Group increased their price target on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Royal Bank Of Canada set a $131.00 price objective on WEC Energy Group in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.21.

WEC Energy Group Stock Performance

NYSE:WEC opened at $110.10 on Thursday. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.50 and a quick ratio of 0.33. The firm has a market capitalization of $35.81 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.82 and a beta of 0.48. The business’s fifty day moving average price is $113.07 and its 200 day moving average price is $108.96.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The business had revenue of $2.28 billion during the quarter. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 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 Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio is currently 67.49%.

WEC Energy Group 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.