Atria Wealth Solutions Inc. Grows Position in WEC Energy Group, Inc. (NYSE:WEC)

Atria Wealth Solutions Inc. increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 46.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,394 shares of the utilities provider’s stock after buying an additional 6,434 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in WEC Energy Group were worth $1,918,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. Mizuho Securities USA LLC grew its stake in WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after buying an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP grew its stake in WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after buying an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after buying an additional 1,912,223 shares during the last quarter. JPMorgan Chase & Co. grew its stake in WEC Energy Group by 17.0% during the 3rd 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. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after buying an additional 695,317 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank raised their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets increased their price objective 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. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Stock Up 0.5 %

WEC opened at $104.04 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The business has a 50 day simple moving average of $97.76 and a 200-day simple moving average of $96.39. The stock has a market capitalization of $32.91 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 12 month low of $76.50 and a 12 month high of $104.98.

WEC Energy Group (NYSE:WEC) last posted its quarterly 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. On average, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s payout ratio is currently 73.91%.

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.