WEC Energy Group, Inc. $WEC Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,770 shares of the utilities provider’s stock after acquiring an additional 7,970 shares during the quarter. AE Wealth Management LLC owned 0.05% of WEC Energy Group worth $19,683,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its position in WEC Energy Group by 1.2% during the third quarter. New York State Common Retirement Fund now owns 133,625 shares of the utilities provider’s stock worth $15,312,000 after purchasing an additional 1,600 shares in the last quarter. Coastal Bridge Advisors LLC raised its stake in shares of WEC Energy Group by 9.1% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 11,120 shares of the utilities provider’s stock worth $1,274,000 after buying an additional 932 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of WEC Energy Group by 15.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,614 shares of the utilities provider’s stock worth $4,883,000 after buying an additional 5,638 shares in the last quarter. Truist Financial Corp grew its stake in WEC Energy Group by 1.7% in the 3rd quarter. Truist Financial Corp now owns 177,485 shares of the utilities provider’s stock valued at $20,338,000 after acquiring an additional 2,934 shares during the last quarter. Finally, Stablepoint Partners LLC increased its holdings in WEC Energy Group by 7.3% during the 3rd quarter. Stablepoint Partners LLC now owns 13,474 shares of the utilities provider’s stock valued at $1,544,000 after acquiring an additional 919 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 0.2%

Shares of WEC Energy Group stock opened at $110.25 on Friday. WEC Energy Group, Inc. has a fifty-two week low of $96.37 and a fifty-two week high of $118.18. The business’s fifty day moving average is $107.07 and its two-hundred day moving average is $109.51. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. The firm has a market cap of $35.86 billion, a PE ratio of 20.84, a P/E/G ratio of 2.60 and a beta of 0.58.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 13th will be given a $0.9525 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.89. This represents a $3.81 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, February 13th. WEC Energy Group’s dividend payout ratio is 67.49%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WEC. Bank of America reduced their price target on shares of WEC Energy Group from $122.00 to $116.00 and set a “neutral” rating on the stock in a report on Wednesday, December 31st. Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Jefferies Financial Group lowered their target price on WEC Energy Group from $124.00 to $121.00 and set a “hold” rating on the stock in a report on Wednesday. Scotiabank boosted their price target on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, KeyCorp reaffirmed an “overweight” rating on shares of WEC Energy Group in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $120.40.

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.