Allspring Global Investments Holdings LLC grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,821 shares of the utilities provider's stock after purchasing an additional 10,607 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in WEC Energy Group were worth $13,424,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Annex Advisory Services LLC grew its holdings in WEC Energy Group by 6.5% in the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider's stock worth $10,405,000 after buying an additional 6,785 shares in the last quarter. DRW Securities LLC bought a new position in WEC Energy Group during the 3rd quarter valued at $1,392,000. Matrix Trust Co bought a new position in WEC Energy Group during the 4th quarter valued at $1,538,000. Motley Fool Wealth Management LLC boosted its stake in WEC Energy Group by 51.0% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider's stock valued at $2,883,000 after purchasing an additional 10,126 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider's stock valued at $42,689,000 after purchasing an additional 78,580 shares in the last quarter. 77.20% of the stock is owned by institutional investors.
WEC Energy Group Stock Up 0.5 %
Shares of WEC traded up $0.51 during mid-day trading on Friday, reaching $104.04. The company's stock had a trading volume of 2,969,450 shares, compared to its average volume of 2,163,607. The business has a fifty day moving average of $97.76 and a 200 day moving average of $96.33. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 1 year low of $76.50 and a 1 year high of $104.98. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.
WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. As a group, analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.
WEC Energy Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.21%. WEC Energy Group's dividend payout ratio is 73.91%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on WEC shares. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Scotiabank increased their price objective on WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a research report on Monday, December 9th. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average target price of $101.88.
Read Our Latest Stock Analysis on WEC
WEC Energy Group Company 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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