Allworth Financial LP raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 13.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,949 shares of the utilities provider’s stock after purchasing an additional 5,827 shares during the period. Allworth Financial LP’s holdings in WEC Energy Group were worth $5,162,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Torren Management LLC bought a new position in WEC Energy Group in the 4th quarter worth about $26,000. Osterweis Capital Management Inc. bought a new position in WEC Energy Group in the 2nd quarter worth about $27,000. Cornerstone Planning Group LLC boosted its stake in WEC Energy Group by 2,400.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 275 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 264 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in WEC Energy Group by 256.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 278 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its stake in WEC Energy Group by 54.7% in the 4th quarter. GoalVest Advisory LLC now owns 294 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.
WEC Energy Group Price Performance
NYSE:WEC opened at $109.07 on Friday. The firm has a market capitalization of $35.53 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 2.68 and a beta of 0.50. WEC Energy Group, Inc. has a 1 year low of $102.49 and a 1 year high of $119.62. The business has a 50 day simple moving average of $115.01 and a 200-day simple moving average of $111.73. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.68 and a quick ratio of 0.54.
WEC Energy Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 14th will be issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, May 14th. WEC Energy Group’s dividend payout ratio is presently 76.05%.
Analyst Ratings Changes
WEC has been the topic of a number of analyst reports. BTIG Research reiterated a “buy” rating and issued a $135.00 price target on shares of WEC Energy Group in a research note on Friday, January 30th. Wells Fargo & Company reissued an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a report on Tuesday, April 21st. KeyCorp lifted their target price on WEC Energy Group from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Argus raised WEC Energy Group to a “strong-buy” rating in a report on Monday, February 9th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $127.00 target price on shares of WEC Energy Group in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus target price of $122.44.
View Our Latest Stock Report on WEC
Insider Buying and Selling at WEC Energy Group
In other news, Director Ulice Payne, Jr. sold 1,450 shares of WEC Energy Group stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $114.60, for a total transaction of $166,170.00. Following the completion of the sale, the director directly owned 20,541 shares in the company, valued at approximately $2,353,998.60. This trade represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 5,000 shares of WEC Energy Group stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $116.55, for a total value of $582,750.00. Following the sale, the director owned 276,600 shares of the company’s stock, valued at approximately $32,237,730. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.46% of the stock is currently owned by company insiders.
WEC Energy Group Company Profile
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
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