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

Norden Group LLC lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,996 shares of the utilities provider’s stock after buying an additional 463 shares during the quarter. Norden Group LLC’s holdings in WEC Energy Group were worth $752,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WEC. Stephens Inc. AR lifted its stake in shares of WEC Energy Group by 34.4% during the 3rd quarter. Stephens Inc. AR now owns 4,906 shares of the utilities provider’s stock worth $472,000 after buying an additional 1,257 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of WEC Energy Group by 3.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,677 shares of the utilities provider’s stock worth $642,000 after buying an additional 250 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of WEC Energy Group during the 3rd quarter worth about $389,000. Janney Montgomery Scott LLC lifted its stake in shares of WEC Energy Group by 14.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 69,286 shares of the utilities provider’s stock worth $6,664,000 after buying an additional 8,628 shares during the last quarter. Finally, Roman Butler Fullerton & Co. acquired a new stake in shares of WEC Energy Group during the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’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 sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

WEC stock opened at $108.39 on Tuesday. 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 12 month low of $77.47 and a 12 month high of $108.43. The firm has a market cap 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’s 50-day moving average price is $99.21 and its two-hundred day moving average price is $97.17.

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

WEC Energy Group Cuts Dividend

The business also recently declared 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 was Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.08%. WEC Energy Group’s payout ratio is currently 73.91%.

Analyst Ratings Changes

A number of research firms recently commented on WEC. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. KeyCorp raised their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Scotiabank raised 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. BMO Capital Markets raised their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Finally, Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $101.88.

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.