WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Allworth Financial LP

Allworth Financial LP lifted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 534.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,934 shares of the utilities provider's stock after purchasing an additional 30,269 shares during the period. Allworth Financial LP's holdings in WEC Energy Group were worth $3,506,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Coastline Trust Co bought a new position in shares of WEC Energy Group in the third quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in WEC Energy Group during the 3rd quarter worth about $45,000. Robbins Farley bought a new position in WEC Energy Group during the 4th quarter worth about $64,000. Concord Wealth Partners grew its holdings in WEC Energy Group by 20.7% during the 3rd quarter. Concord Wealth Partners now owns 777 shares of the utilities provider's stock worth $75,000 after acquiring an additional 133 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in shares of WEC Energy Group by 22.2% during the third quarter. NBC Securities Inc. now owns 830 shares of the utilities provider's stock valued at $79,000 after buying an additional 151 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on WEC. StockNews.com lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. BMO Capital Markets increased their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Scotiabank increased their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a report on Monday, December 9th. Finally, Wells Fargo & Company increased their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $101.88.

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WEC Energy Group Stock Performance

Shares of NYSE WEC traded up $0.51 during midday trading on Friday, reaching $104.04. 2,969,450 shares of the stock were exchanged, compared to its average volume of 2,163,607. The firm has a market cap of $32.91 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a twelve month low of $76.50 and a twelve month high of $104.98. The firm has a 50-day simple moving average of $97.76 and a two-hundred day simple moving average of $96.33. 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 issued its quarterly earnings data 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 firm 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%. WEC Energy Group's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS 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. Stockholders of record on Friday, February 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.21%. WEC Energy Group's payout ratio is 73.91%.

WEC Energy Group Profile

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.