Nicholson Wealth Management Group LLC Takes $1.03 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Nicholson Wealth Management Group LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 10,717 shares of the utilities provider’s stock, valued at approximately $1,031,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in WEC Energy Group by 36.7% during the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after purchasing an additional 688,812 shares in the last quarter. Earnest Partners LLC lifted its position in shares of WEC Energy Group by 11.8% during the 2nd quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock worth $153,372,000 after buying an additional 206,637 shares during the period. Envestnet Asset Management Inc. boosted its stake in WEC Energy Group by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock valued at $139,889,000 after buying an additional 61,019 shares in the last quarter. Clearbridge Investments LLC grew its position in WEC Energy Group by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,355,909 shares of the utilities provider’s stock valued at $106,385,000 after acquiring an additional 22,026 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in WEC Energy Group by 9.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,320,723 shares of the utilities provider’s stock worth $108,458,000 after acquiring an additional 111,254 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC stock opened at $98.81 on Friday. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.54 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average price of $94.78 and a 200 day moving average price of $86.43.

WEC Energy Group (NYSE:WECGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $0.92 EPS. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. Research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.38%. WEC Energy Group’s dividend payout ratio is presently 77.14%.

Insider Buying and Selling at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the completion of the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WEC shares. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. KeyCorp lifted their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Jefferies Financial Group started coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $94.45.

Read Our Latest Research Report on WEC Energy Group

WEC Energy Group 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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