WEC Energy Group, Inc. $WEC Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 11.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,114 shares of the utilities provider’s stock after selling 18,021 shares during the period. Cetera Investment Advisers’ holdings in WEC Energy Group were worth $14,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WEC. Geode Capital Management LLC increased its position in shares of WEC Energy Group by 2.8% during the second quarter. Geode Capital Management LLC now owns 8,594,608 shares of the utilities provider’s stock worth $892,020,000 after purchasing an additional 235,653 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after purchasing an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after buying an additional 726,267 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of WEC Energy Group by 0.8% in the first quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock valued at $466,451,000 after buying an additional 33,810 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of WEC Energy Group by 4.9% in the first quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock worth $436,298,000 after buying an additional 188,057 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WEC. BMO Capital Markets upped their price objective on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company initiated coverage on WEC Energy Group in a report on Monday, October 27th. They issued an “overweight” rating and a $124.00 price target for the company. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. TD Cowen assumed coverage on WEC Energy Group in a research note on Thursday, October 16th. They set a “hold” rating and a $125.00 price objective on the stock. Finally, UBS Group raised their target price on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, WEC Energy Group has a consensus rating of “Moderate Buy” and an average price target of $120.21.

WEC Energy Group Trading Down 1.3%

WEC opened at $110.10 on Thursday. The stock has a market capitalization of $35.81 billion, a PE ratio of 20.81, a P/E/G ratio of 2.82 and a beta of 0.48. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $118.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.33 and a current ratio of 0.50. The business’s 50 day moving average price is $113.07 and its 200 day moving average price is $108.96.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%.The company had revenue of $2.28 billion during the quarter. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.8925 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. WEC Energy Group’s dividend payout ratio is presently 67.49%.

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.