Parallel Advisors LLC Sells 158 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Parallel Advisors LLC cut its stake in WEC Energy Group, Inc. (NYSE:WECFree Report) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,407 shares of the utilities provider’s stock after selling 158 shares during the period. Parallel Advisors LLC’s holdings in WEC Energy Group were worth $287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WEC. Tennessee Valley Asset Management Partners bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $26,000. Valued Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $28,000. First United Bank & Trust bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. Fortitude Family Office LLC bought a new position in shares of WEC Energy Group in the 4th quarter worth $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of WEC Energy Group in the 3rd quarter worth $38,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WEC has been the topic of a number of recent research reports. KeyCorp increased their target price on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. The Goldman Sachs Group initiated coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Barclays cut their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Finally, Royal Bank of Canada cut their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $86.29.

View Our Latest Report on WEC Energy Group

WEC Energy Group Trading Up 2.2 %

NYSE WEC opened at $81.03 on Monday. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $93.37. The firm has a market capitalization of $25.59 billion, a P/E ratio of 17.69, a PEG ratio of 2.10 and a beta of 0.42. The business has a fifty day simple moving average of $81.91 and a 200 day simple moving average of $81.60. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WECGet Free Report) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm posted $1.61 EPS. The business’s revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, May 13th. WEC Energy Group’s dividend payout ratio is presently 72.93%.

WEC Energy Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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