New Wave Wealth Advisors LLC Purchases New Position in WEC Energy Group, Inc. (NYSE:WEC)

New Wave Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,358 shares of the utilities provider’s stock, valued at approximately $128,000.

Other large investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its position in WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of WEC Energy Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after buying an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after acquiring an additional 4,691,017 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.2 %

Shares of WEC opened at $99.27 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.47 and a beta of 0.48. The company has a 50-day moving average of $96.71 and a 200 day moving average of $94.32. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. WEC Energy Group’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, research analysts expect that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio is 81.66%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WEC. KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research report on Monday, December 2nd. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Finally, StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.40.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the transaction, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This represents a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,794 shares of company stock valued at $4,866,579. 0.34% of the stock is currently owned by corporate insiders.

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.