Atria Wealth Solutions Inc. Grows Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Atria Wealth Solutions Inc. grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 265.0% during the 4th quarter, HoldingsChannel reports. The fund owned 10,361 shares of the utilities provider’s stock after buying an additional 7,522 shares during the period. Atria Wealth Solutions Inc.’s holdings in WEC Energy Group were worth $872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in WEC. GAMMA Investing LLC purchased a new stake in WEC Energy Group during the 4th quarter worth about $580,000. Linden Thomas Advisory Services LLC boosted its position in shares of WEC Energy Group by 7.6% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,214 shares of the utilities provider’s stock valued at $691,000 after acquiring an additional 583 shares during the period. RWA Wealth Partners LLC purchased a new position in WEC Energy Group during the fourth quarter valued at approximately $292,000. Significant Wealth Partners LLC bought a new stake in WEC Energy Group during the 4th quarter worth approximately $367,000. Finally, Duality Advisers LP purchased a new stake in WEC Energy Group in the 4th quarter worth approximately $2,709,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Up 0.2 %

Shares of WEC stock opened at $83.22 on Friday. The business has a 50-day moving average of $80.60 and a 200 day moving average of $81.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $96.17. The stock has a market capitalization of $26.25 billion, a PE ratio of 18.17, a P/E/G ratio of 2.88 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s payout ratio is 72.93%.

Insider Activity

In related news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WEC. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Barclays cut their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Scotiabank lowered their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. cut shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $90.00 to $84.00 in a research note on Friday, February 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $86.29.

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.