Cetera Investment Advisers Sells 3,311 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Cetera Investment Advisers cut its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,466 shares of the utilities provider's stock after selling 3,311 shares during the quarter. Cetera Investment Advisers' holdings in WEC Energy Group were worth $13,868,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WEC. Tidal Investments LLC boosted its stake in shares of WEC Energy Group by 3.9% in the 3rd quarter. Tidal Investments LLC now owns 4,428 shares of the utilities provider's stock valued at $426,000 after buying an additional 166 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after buying an additional 699,177 shares during the last quarter. Diversified Trust Co grew its position in WEC Energy Group by 7.5% in the 4th quarter. Diversified Trust Co now owns 5,443 shares of the utilities provider's stock valued at $512,000 after buying an additional 378 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in WEC Energy Group by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 200,741 shares of the utilities provider's stock worth $19,308,000 after purchasing an additional 2,395 shares during the period. Finally, ST Germain D J Co. Inc. lifted its position in shares of WEC Energy Group by 50.9% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,600 shares of the utilities provider's stock valued at $150,000 after acquiring an additional 540 shares during the period. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Up 1.8%

Shares of NYSE WEC traded up $1.88 during mid-day trading on Thursday, reaching $104.12. 831,453 shares of the company's stock were exchanged, compared to its average volume of 2,155,250. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The business has a fifty day simple moving average of $106.98 and a 200 day simple moving average of $101.53. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the company earned $1.97 earnings per share. The firm's revenue for the quarter was up 17.5% on a year-over-year basis. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.45%. WEC Energy Group's dividend payout ratio is currently 69.59%.

Analyst Ratings Changes

Several brokerages have weighed in on WEC. Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their target price for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, Barclays upped their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $107.13.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.