Wealth Enhancement Advisory Services LLC Lowers Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Wealth Enhancement Advisory Services LLC reduced its stake in WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 86.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,323 shares of the utilities provider’s stock after selling 15,346 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in WEC Energy Group were worth $224,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of WEC Energy Group by 9.5% in the third quarter. Van ECK Associates Corp now owns 52,918 shares of the utilities provider’s stock valued at $4,667,000 after buying an additional 4,570 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of WEC Energy Group by 3.5% in the third quarter. Treasurer of the State of North Carolina now owns 113,713 shares of the utilities provider’s stock valued at $10,029,000 after buying an additional 3,839 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of WEC Energy Group by 10.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 139,707 shares of the utilities provider’s stock valued at $12,322,000 after buying an additional 13,082 shares in the last quarter. Transcend Wealth Collective LLC purchased a new stake in shares of WEC Energy Group in the third quarter valued at approximately $220,000. Finally, Almanack Investment Partners LLC. boosted its stake in shares of WEC Energy Group by 3.3% in the third quarter. Almanack Investment Partners LLC. now owns 5,530 shares of the utilities provider’s stock valued at $488,000 after buying an additional 177 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

Shares of NYSE WEC opened at $100.05 on Friday. The firm has a market cap of $31.56 billion, a P/E ratio of 24.34, a PEG ratio of 3.90 and a beta of 0.29. The stock has a fifty day moving average price of $97.97 and a two-hundred day moving average price of $94.64. WEC Energy Group, Inc. has a 1 year low of $86.84 and a 1 year high of $106.82. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 0.71.

WEC Energy Group (NYSE:WEC – Get Rating) last released its quarterly earnings data on Thursday, February 3rd. The utilities provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $1.86 billion. WEC Energy Group had a return on equity of 11.80% and a net margin of 15.64%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 earnings per share. On average, research analysts predict that WEC Energy Group, Inc. will post 4.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be given a $0.7275 dividend. This represents a $2.91 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, May 12th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.80%.

WEC has been the topic of a number of analyst reports. Credit Suisse Group initiated coverage on WEC Energy Group in a research note on Monday, April 25th. They issued a “neutral” rating and a $108.00 price target on the stock. StockNews.com assumed coverage on WEC Energy Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group upgraded WEC Energy Group from a “sell” rating to a “neutral” rating and set a $99.00 target price on the stock in a research report on Thursday, January 13th. Evercore ISI reiterated a “hold” rating and set a $97.00 target price on shares of WEC Energy Group in a research report on Friday, February 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $98.00 target price on shares of WEC Energy Group in a research report on Friday, February 4th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $101.00.

About WEC Energy Group (Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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