Nicholson Wealth Management Group LLC Buys 6,510 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Nicholson Wealth Management Group LLC grew its stake in WEC Energy Group, Inc. (NYSE:WEC) by 60.7% during the 4th quarter, HoldingsChannel reports. The firm owned 17,227 shares of the utilities provider’s stock after acquiring an additional 6,510 shares during the quarter. WEC Energy Group makes up approximately 1.1% of Nicholson Wealth Management Group LLC’s holdings, making the stock its 25th biggest holding. Nicholson Wealth Management Group LLC’s holdings in WEC Energy Group were worth $1,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WEC. Mizuho Securities USA LLC raised 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 period. Geode Capital Management LLC increased its position in shares of WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock valued at $762,453,000 after acquiring an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares during the period. Wellington Management Group LLP grew its holdings in WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 0.0 %

Shares of WEC opened at $103.59 on Friday. WEC Energy Group, Inc. has a 1-year low of $76.50 and a 1-year high of $104.15. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average price is $97.60 and its 200-day moving average price is $96.22. The firm has a market capitalization of $32.77 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.60 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.10 EPS. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.22%. WEC Energy Group’s payout ratio is 73.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WEC. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. KeyCorp upped their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.88.

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.