Hummer Financial Advisory Services Inc Acquires 521 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Hummer Financial Advisory Services Inc lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 4.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,622 shares of the utilities provider’s stock after purchasing an additional 521 shares during the period. WEC Energy Group accounts for approximately 1.0% of Hummer Financial Advisory Services Inc’s portfolio, making the stock its 19th biggest holding. Hummer Financial Advisory Services Inc’s holdings in WEC Energy Group were worth $1,267,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the period. Raymond James Financial Inc. bought a new position in WEC Energy Group during the fourth quarter valued at about $188,879,000. GAMMA Investing LLC increased its stake in WEC Energy Group by 12,777.6% during the first quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider’s stock valued at $199,872,000 after acquiring an additional 1,819,782 shares during the period. Janus Henderson Group PLC increased its stake in WEC Energy Group by 3,815.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider’s stock valued at $138,342,000 after acquiring an additional 1,433,522 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after acquiring an additional 699,177 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joshua M. Erickson sold 2,155 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

WEC Energy Group Stock Up 1.4%

Shares of WEC opened at $107.51 on Monday. The company has a market capitalization of $34.31 billion, a P/E ratio of 22.26, a PEG ratio of 2.60 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The business’s 50 day simple moving average is $106.98 and its 200-day simple moving average is $102.45.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 EPS. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a $0.8975 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group’s payout ratio is presently 69.59%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several research reports. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. BMO Capital Markets boosted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Barclays lifted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, April 29th. Finally, Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an “outperform” rating in a report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.13.

WEC Energy Group 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.