Nicolet Bankshares Inc. Sells 183 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Nicolet Bankshares Inc. lessened its position in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,083 shares of the utilities provider’s stock after selling 183 shares during the period. Nicolet Bankshares Inc.’s holdings in WEC Energy Group were worth $1,859,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in WEC Energy Group by 3.0% during the second quarter. Geode Capital Management LLC now owns 7,008,729 shares of the utilities provider’s stock worth $616,906,000 after acquiring an additional 203,181 shares during the last quarter. Deutsche Bank AG lifted its position in WEC Energy Group by 3.0% during the third quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock worth $442,697,000 after acquiring an additional 158,652 shares during the last quarter. Magellan Asset Management Ltd lifted its position in WEC Energy Group by 17.0% during the second quarter. Magellan Asset Management Ltd now owns 5,316,833 shares of the utilities provider’s stock worth $469,157,000 after acquiring an additional 772,372 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of WEC Energy Group by 3.4% in the second quarter. Nuveen Asset Management LLC now owns 3,998,540 shares of the utilities provider’s stock valued at $352,831,000 after buying an additional 131,280 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of WEC Energy Group by 9.4% in the fourth quarter. Morgan Stanley now owns 3,236,416 shares of the utilities provider’s stock valued at $303,446,000 after buying an additional 277,337 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

WEC Energy Group Trading Up 0.7 %

WEC stock traded up $0.58 during midday trading on Monday, hitting $78.13. The stock had a trading volume of 1,204,210 shares, compared to its average volume of 2,657,787. The business has a fifty day moving average price of $82.48 and a two-hundred day moving average price of $83.24. WEC Energy Group, Inc. has a 1-year low of $75.47 and a 1-year high of $99.26. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The firm has a market cap of $24.64 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.70 and a beta of 0.41.

WEC Energy Group (NYSE:WECGet Free Report) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. On average, sell-side analysts predict that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, February 13th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.78. WEC Energy Group’s payout ratio is presently 73.93%.

Analysts Set New Price Targets

WEC has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Royal Bank of Canada decreased their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday. KeyCorp lifted their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Finally, Bank of America reissued an “underperform” rating and issued a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Four equities research analysts have 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, the stock currently has an average rating of “Hold” and an average target price of $86.17.

Check Out Our Latest Research Report on WEC Energy Group

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $83.46, for a total value of $50,076.00. Following the transaction, the director now owns 20,933 shares in the company, valued at $1,747,068.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Company 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. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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

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