Nicolet Advisory Services LLC Boosts Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Nicolet Advisory Services LLC increased its holdings in WEC Energy Group by 4.0% during the first quarter, owning 128,526 shares valued at approximately $13.56 million.
• WEC Energy Group's recent quarterly earnings report showed earnings per share of $0.76, surpassing analysts' estimates of $0.71, with a year-over-year revenue increase of 13.4%.
• Recent equities analysts' ratings for WEC Energy Group include cuts to "sell" and adjustments to target prices, with a consensus price target of $106.40 and a "Hold" rating status.

Nicolet Advisory Services LLC increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,526 shares of the utilities provider's stock after acquiring an additional 4,966 shares during the period. WEC Energy Group comprises 1.3% of Nicolet Advisory Services LLC's investment portfolio, making the stock its 17th biggest position. Nicolet Advisory Services LLC's holdings in WEC Energy Group were worth $13,561,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WEC. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group in the first quarter valued at approximately $32,000. Golden State Wealth Management LLC increased its stake in WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Creekmur Asset Management LLC raised its holdings in WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after purchasing an additional 363 shares in the last quarter. Finally, Stephens Consulting LLC raised its holdings in WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after purchasing an additional 316 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction that occurred 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 sale, the vice president owned 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

WEC Energy Group Price Performance

Shares of WEC traded up $1.12 on Monday, reaching $111.36. The stock had a trading volume of 456,683 shares, compared to its average volume of 2,214,907. WEC Energy Group, Inc. has a twelve month low of $86.76 and a twelve month high of $111.60. The firm has a market capitalization of $35.54 billion, a PE ratio of 21.35, a PEG ratio of 3.03 and a beta of 0.42. The firm has a 50-day moving average of $105.95 and a 200 day moving average of $105.40. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

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

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be paid 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 is presently 68.39%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WEC. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price target for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Barclays lifted 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 report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. UBS Group set a $107.00 target price on WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average price target of $106.40.

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.