Dynamic Advisor Solutions LLC Grows Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Posted by on Mar 26th, 2023

Dynamic Advisor Solutions LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,502 shares of the utilities provider’s stock after buying an additional 411 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in WEC Energy Group were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WEC. Fairfield Bush & CO. purchased a new position in shares of WEC Energy Group in the first quarter valued at $64,000. Raymond James Trust N.A. grew its position in shares of WEC Energy Group by 19.9% in the first quarter. Raymond James Trust N.A. now owns 6,272 shares of the utilities provider’s stock valued at $626,000 after purchasing an additional 1,040 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of WEC Energy Group by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 848,405 shares of the utilities provider’s stock valued at $84,682,000 after purchasing an additional 65,287 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of WEC Energy Group by 10.2% in the first quarter. Allianz Asset Management GmbH now owns 34,679 shares of the utilities provider’s stock valued at $3,461,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of WEC Energy Group by 11.8% in the first quarter. Cetera Investment Advisers now owns 8,765 shares of the utilities provider’s stock valued at $875,000 after purchasing an additional 923 shares in the last quarter. 74.05% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

NYSE:WEC opened at $93.22 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a fifty day moving average of $91.98 and a 200 day moving average of $93.54. WEC Energy Group, Inc. has a 52-week low of $80.82 and a 52-week high of $108.39. The firm has a market capitalization of $29.40 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 3.38 and a beta of 0.38.

WEC Energy Group (NYSE:WEC – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. WEC Energy Group had a return on equity of 12.24% and a net margin of 14.68%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue was up 16.2% compared to the same quarter last year. On average, research analysts expect that WEC Energy Group, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WEC shares. TheStreet upgraded WEC Energy Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 13th. StockNews.com initiated coverage on WEC Energy Group in a research note on Thursday, March 16th. They set a “hold” rating for the company. Wells Fargo & Company dropped their price objective on WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Finally, BMO Capital Markets lifted their price objective on WEC Energy Group from $93.00 to $100.00 in a research note on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.78.

WEC Energy Group Company Profile

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WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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