Alley Investment Management Company LLC Has $4 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

by · The Markets Daily

Alley Investment Management Company LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,485 shares of the utilities provider’s stock after acquiring an additional 1,241 shares during the period. Alley Investment Management Company LLC’s holdings in WEC Energy Group were worth $3,995,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of WEC Energy Group during the 4th quarter valued at about $258,000. Alta Capital Management LLC lifted its holdings in WEC Energy Group by 9.4% during the 4th quarter. Alta Capital Management LLC now owns 37,999 shares of the utilities provider’s stock valued at $3,573,000 after purchasing an additional 3,262 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after purchasing an additional 87,711 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in WEC Energy Group by 7.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 33,852 shares of the utilities provider’s stock valued at $3,183,000 after purchasing an additional 2,433 shares during the last quarter. Finally, HFR Wealth Management LLC lifted its holdings in WEC Energy Group by 0.4% during the 4th quarter. HFR Wealth Management LLC now owns 100,353 shares of the utilities provider’s stock valued at $9,437,000 after purchasing an additional 411 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

WEC Energy Group Trading Up 1.6 %

WEC opened at $108.39 on Tuesday. 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 company has a market cap of $34.44 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. The firm has a 50 day simple moving average of $99.21 and a 200 day simple moving average of $97.17. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $108.43.

WEC Energy Group (NYSE:WEC – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for 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 period last year, the firm earned $1.10 earnings per share. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is 73.91%.

Wall Street Analyst Weigh In

WEC has been the subject of several analyst reports. Scotiabank lifted their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One equities research 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 company has an average rating of “Hold” and a consensus price target of $101.88.

View Our Latest Report on WEC

WEC Energy Group Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC – Free Report).