WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Janney Montgomery Scott LLC

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,164 shares of the utilities provider’s stock after purchasing an additional 4,078 shares during the quarter. Janney Montgomery Scott LLC’s holdings in WEC Energy Group were worth $5,922,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $26,000. Asset Dedication LLC acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $27,000. Achmea Investment Management B.V. acquired a new stake in WEC Energy Group during the 1st quarter worth approximately $27,000. Cowa LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth approximately $30,000. Finally, VitalStone Financial LLC acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $35,000. 74.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WEC. JPMorgan Chase & Co. raised their price target on WEC Energy Group from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company reduced their price target on WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Finally, StockNews.com started coverage on WEC Energy Group in a report on Thursday, March 16th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $99.40.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $96.85 on Friday. WEC Energy Group, Inc. has a fifty-two week low of $80.82 and a fifty-two week high of $108.39. The company has a market capitalization of $30.55 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 3.57 and a beta of 0.40. The stock has a fifty day moving average of $93.14 and a two-hundred day moving average of $93.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.52 and a current ratio of 0.69.

WEC Energy Group (NYSE:WEC – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The utilities provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, analysts anticipate that WEC Energy Group, Inc. will post 4.6 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 12th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. WEC Energy Group’s dividend payout ratio (DPR) is 69.96%.

WEC Energy Group 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.