Allworth Financial LP Raises Stock Holdings in WEC Energy Group, Inc. $WEC

Allworth Financial LP boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 22.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,296 shares of the utilities provider’s stock after purchasing an additional 7,808 shares during the quarter. Allworth Financial LP’s holdings in WEC Energy Group were worth $4,511,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC grew its position in shares of WEC Energy Group by 11.0% during the second quarter. Fidelis Capital Partners LLC now owns 2,750 shares of the utilities provider’s stock worth $302,000 after buying an additional 272 shares in the last quarter. ProShare Advisors LLC boosted its stake in WEC Energy Group by 13.4% during the 2nd quarter. ProShare Advisors LLC now owns 56,716 shares of the utilities provider’s stock valued at $5,910,000 after acquiring an additional 6,701 shares during the last quarter. Profund Advisors LLC boosted its stake in WEC Energy Group by 28.2% during the 2nd quarter. Profund Advisors LLC now owns 16,044 shares of the utilities provider’s stock valued at $1,672,000 after acquiring an additional 3,532 shares during the last quarter. PFG Advisors acquired a new position in WEC Energy Group during the 2nd quarter worth $203,000. Finally, Midwest Trust Co bought a new stake in shares of WEC Energy Group in the 2nd quarter worth about $249,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC opened at $112.50 on Wednesday. The firm has a fifty day moving average of $112.63 and a 200-day moving average of $108.86. The company has a market cap of $36.60 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 3.17 and a beta of 0.48. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $118.18.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group’s payout ratio is currently 67.49%.

Analysts Set New Price Targets

Several equities analysts have recently commented on WEC shares. UBS Group increased their price target on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Mizuho set a $125.00 price objective on WEC Energy Group in a research note on Monday, October 27th. Cowen started coverage on WEC Energy Group in a research report on Wednesday, October 15th. They issued a “hold” rating for the company. TD Cowen started coverage on WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target for the company. Finally, Royal Bank Of Canada set a $131.00 price objective on WEC Energy Group in a research note on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.21.

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.