Allworth Financial LP Has $545,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Allworth Financial LP lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 19.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,665 shares of the utilities provider’s stock after selling 1,333 shares during the quarter. Allworth Financial LP’s holdings in WEC Energy Group were worth $545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. increased its stake in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter worth $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group in the 2nd quarter worth $31,000. FinTrust Capital Advisors LLC grew its stake in shares of WEC Energy Group by 52.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 142 shares in the last quarter. Finally, ESL Trust Services LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth $37,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 1.7 %

Shares of WEC Energy Group stock opened at $95.33 on Wednesday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The company has a market cap of $30.13 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.50 and a beta of 0.44. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $95.36 and its 200-day moving average price is $86.94.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s payout ratio is 72.93%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WEC shares. Barclays upped their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. KeyCorp upped their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Finally, Scotiabank boosted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.45.

Insider Transactions at WEC Energy Group

In related news, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the transaction, the vice president now directly owns 1,462 shares in the company, valued at approximately $129,796.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the transaction, the vice president now directly owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,702 shares of company stock valued at $1,078,058. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group 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.