Wealth Enhancement Advisory Services LLC Buys 17,939 Shares of WEC Energy Group, Inc. $WEC

by · The Cerbat Gem

Wealth Enhancement Advisory Services LLC raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,340 shares of the utilities provider’s stock after purchasing an additional 17,939 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.09% of WEC Energy Group worth $34,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its position in WEC Energy Group by 16.9% during the first quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider’s stock valued at $1,820,000 after purchasing an additional 2,417 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of WEC Energy Group by 41.3% in the 1st quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock valued at $2,925,000 after buying an additional 7,841 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of WEC Energy Group by 28.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 10,909 shares of the utilities provider’s stock worth $1,137,000 after buying an additional 2,403 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of WEC Energy Group by 28.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 197,250 shares of the utilities provider’s stock worth $20,553,000 after acquiring an additional 43,403 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in WEC Energy Group by 12.9% during the second quarter. GAMMA Investing LLC now owns 18,992 shares of the utilities provider’s stock valued at $1,979,000 after acquiring an additional 2,163 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.0%

Shares of WEC opened at $109.71 on Wednesday. The company’s 50-day moving average price is $107.28 and its 200 day moving average price is $109.33. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 12-month low of $96.37 and a 12-month high of $118.18. The firm has a market cap of $35.69 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.57 and a beta of 0.58.

WEC Energy Group (NYSE:WEC – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $1.86 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 13th will be paid a dividend of $0.9525 per share. The ex-dividend date is Friday, February 13th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.89. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.5%. WEC Energy Group’s payout ratio is presently 67.49%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cowen assumed coverage on shares of WEC Energy Group in a report on Wednesday, October 15th. They issued a “hold” rating on the stock. BMO Capital Markets upped their target price on WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research report on Tuesday, October 21st. BTIG Research raised WEC Energy Group to a “strong-buy” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company reduced their target price on WEC Energy Group from $124.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell 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 price target of $120.29.

Read Our Latest Report on WEC Energy Group

WEC Energy Group Company Profile

(Free Report)

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.

Recommended Stories