Cetera Investment Advisers Has $16.91 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Cetera Investment Advisers increased its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,135 shares of the utilities provider's stock after purchasing an additional 7,669 shares during the period. Cetera Investment Advisers' holdings in WEC Energy Group were worth $16,907,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lifeworks Advisors LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter valued at $493,000. Journey Strategic Wealth LLC lifted its position in shares of WEC Energy Group by 2.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,174 shares of the utilities provider's stock worth $455,000 after buying an additional 111 shares during the last quarter. Carnegie Investment Counsel boosted its stake in WEC Energy Group by 2.9% in the first quarter. Carnegie Investment Counsel now owns 8,403 shares of the utilities provider's stock valued at $867,000 after buying an additional 233 shares in the last quarter. AE Wealth Management LLC grew its position in WEC Energy Group by 17.0% in the first quarter. AE Wealth Management LLC now owns 163,998 shares of the utilities provider's stock valued at $17,872,000 after acquiring an additional 23,804 shares during the last quarter. Finally, Hendershot Investments Inc. raised its stake in WEC Energy Group by 1.6% during the first quarter. Hendershot Investments Inc. now owns 9,369 shares of the utilities provider's stock worth $1,021,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president owned 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WEC. UBS Group set a $107.00 price target on shares of WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays upped their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $106.40.

WEC Energy Group Trading Up 1.3%

Shares of WEC Energy Group stock traded up $1.43 during midday trading on Friday, reaching $110.51. The company had a trading volume of 1,406,810 shares, compared to its average volume of 2,213,157. The firm has a market cap of $35.27 billion, a PE ratio of 21.16, a P/E/G ratio of 2.98 and a beta of 0.44. The stock has a fifty day moving average price of $105.88 and a 200 day moving average price of $105.18. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a fifty-two week low of $86.76 and a fifty-two week high of $111.07.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company earned $0.67 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

WEC Energy Group Company 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.