Nicholson Wealth Management Group LLC Grows Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Nicholson Wealth Management Group LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 60.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 makes up approximately 1.1% of Nicholson Wealth Management Group LLC’s holdings, making the stock its 25th biggest position. Nicholson Wealth Management Group LLC’s holdings in WEC Energy Group were worth $1,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of WEC Energy Group by 4.6% in the third quarter. Creative Planning now owns 57,528 shares of the utilities provider’s stock valued at $5,533,000 after acquiring an additional 2,532 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 buying an additional 11,198 shares during the last quarter. Foundations Investment Advisors LLC boosted 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 in the last quarter. Eastern Bank purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $792,000. Finally, Stanley Laman Group Ltd. purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $227,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WEC shares. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. KeyCorp lifted 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. Finally, Scotiabank raised their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Trading Up 0.0 %

Shares of NYSE WEC opened at $103.59 on Friday. The stock’s 50 day moving average price is $97.60 and its two-hundred day moving average price is $96.22. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $104.15. The stock has a market capitalization of $32.77 billion, a P/E ratio of 21.45, a PEG ratio of 2.60 and a beta of 0.49. 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) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.22%. WEC Energy Group’s dividend payout ratio is 73.91%.

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.