Norden Group LLC Has $752,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Norden Group LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,996 shares of the utilities provider’s stock after buying an additional 463 shares during the period. Norden Group LLC’s holdings in WEC Energy Group were worth $752,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Marshall Financial Group LLC boosted its position in WEC Energy Group by 4.8% during the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock worth $207,000 after buying an additional 100 shares during the period. Wealth Alliance boosted its position in WEC Energy Group by 0.8% during the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock worth $1,325,000 after buying an additional 110 shares during the period. Advisor OS LLC boosted its position in WEC Energy Group by 3.5% during the 4th quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider’s stock worth $303,000 after buying an additional 110 shares during the period. Capital Advisors Ltd. LLC boosted its position in WEC Energy Group by 14.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider’s stock worth $86,000 after buying an additional 118 shares during the period. Finally, Tsfg LLC boosted its position in WEC Energy Group by 4.6% during the 4th quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock worth $254,000 after buying an additional 119 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on WEC. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Scotiabank boosted their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Stock Performance

NYSE:WEC opened at $108.39 on Tuesday. The company has a fifty day moving average of $99.21 and a 200-day moving average of $97.17. The firm has a market capitalization of $34.44 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.60 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $108.43.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. As a group, 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 was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were paid a $0.835 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.08%. WEC Energy Group’s dividend payout ratio is currently 73.91%.

Insider Activity

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

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.