Nicolet Advisory Services LLC, the renowned investment firm, has announced that it raised its holdings in WEC Energy Group, Inc. by 4.2% during the fourth quarter. According to their most recent filing with the Securities and Exchange Commission, Nicolet Advisory Services now own 108,578 shares of WEC Energy Group’s stock, accounting for roughly 1.4% of the institutional investor’s total holdings and making it their 12th biggest position.
The value of Nicolet Advisory Services’ current stake in WEC Energy Group is an impressive $10,662,000 at the end of the most recent quarter after having purchased an additional 4,381 shares over this same period.
An important piece of information shared by the company recently was its announcement regarding a quarterly dividend which will be paid on June 1st to shareholders. Record holders as at May 12th would receive $0.78 per share equating to an annualized dividend payout ratio of $3.12 with a yield of approximately 3.31%.
However, not all news is positive regarding WEC Energy as Director Ulice Payne Jr., announced on Tuesday, May 9th that he had sold around 1,500 shares of his stock in a transaction representing a total value of $141,540.00 averaged at approximately $94.36 per share price point.
Despite this setback from one shareholder amounting to less than half a percent (0.34%) ownership overall and notwithstanding growing competitive pressures across the broader utilities landscape industry-wide challenges persisting through nuances like regulatory changes pose some serious threats to all participants vying within this sector.
As for what these developments may portend long-term in terms of outcomes or shifts remains uncertain; however investors should be attentive to every new piece unfolding daily so that they can make informed decisions about how best they can maximize returns on investments amid rapid advancements towards cleaner renewable energy solutions.
WEC Energy Group: Recent Developments and Future Prospects
WEC Energy Group: An Overview of Recent Developments
Institutional investors have recently updated their positions in the utility provider, WEC Energy Group (NYSE:WEC). Huntington National Bank increased its stake by 5.2%, while HBK Sorce Advisory and EverSource Wealth Advisors also lifted their positions in the company. Treasurer of the State of North Carolina and Motley Fool Wealth Management followed suit with small percentage increments.
Several analysts have reported on WEC Energy Group, maintaining a “hold” consensus rating with an average target price of $98.80. However, StockNews.com downgraded the stock from “hold” to “sell.” Amidst these varying opinions, Brewins’ experts suggest that investors should hold on to their shares, as a sell-off at this point would not fetch any significant gains.
The business has announced a quarterly dividend of 78 cents per share for shareholders registered by May 12th and will be paid out on June 1st. This represents a dividend yield of 3.31% and an annualized payout ratio of 72.90%.
As for the technicals, WEC traded at $94.19 on May 11th with volume records indicating sales just half its average level over the past year within one non-holiday trading day period. It has been noted that this saw active hedge funds and other institutional investors owning around about three-quarters (74.05%) stake in the firm’s stock.
On May 1st, WEC Energy Group reported first-quarter earnings which showed earnings per share (EPS) were $1.61; that’s above analyst expectations by $0.03,and returned positive net margins for investors looking to carry stakes into subsequent quarters as projections strike well going forward.
Consequently, despite varied opinions regarding potential future indices regarding WEC Energy Group stocks, it appears on balance that positive momentum may balance sentiment in coming months. It’s advised by some experts to continue holding the company’s positions with the expectation of an even more thriving performance in subsequent quarters.
