Nicholson Wealth Management Group LLC Has $1.62 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Nicholson Wealth Management Group LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 60.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,227 shares of the utilities provider's stock after purchasing an additional 6,510 shares during the quarter. WEC Energy Group accounts for approximately 1.1% of Nicholson Wealth Management Group LLC's holdings, making the stock its 25th biggest holding. Nicholson Wealth Management Group LLC's holdings in WEC Energy Group were worth $1,620,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Creative Planning boosted its stake in WEC Energy Group by 4.6% in the third quarter. Creative Planning now owns 57,528 shares of the utilities provider's stock worth $5,533,000 after purchasing an additional 2,532 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of WEC Energy Group by 9.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 132,214 shares of the utilities provider's stock valued at $12,716,000 after purchasing an additional 11,198 shares in the last quarter. Foundations Investment Advisors LLC raised its position in WEC Energy Group by 24.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 11,751 shares of the utilities provider's stock worth $1,130,000 after purchasing an additional 2,307 shares during the last quarter. Eastern Bank bought a new position in WEC Energy Group in the 3rd quarter worth approximately $792,000. Finally, Stanley Laman Group Ltd. acquired a new position in WEC Energy Group during the 3rd quarter worth $227,000. Institutional investors and hedge funds own 77.20% of the company's stock.

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WEC Energy Group Trading Up 1.4 %

NYSE WEC traded up $1.50 during trading on Tuesday, reaching $106.38. 1,810,299 shares of the stock traded hands, compared to its average volume of 2,161,542. The stock's 50-day moving average price is $97.96 and its 200 day moving average price is $96.56. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a market cap of $33.65 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a fifty-two week low of $76.50 and a fifty-two week high of $106.75.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 EPS. Analysts predict that WEC Energy Group, Inc. will post 5.23 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 paid a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group's payout ratio is 73.91%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WEC. Bank of America raised WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. StockNews.com lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Scotiabank increased their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $101.88.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company's stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.44% of the company's stock.

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.