WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,305 shares of the utilities provider’s stock after buying an additional 514 shares during the period. Portside Wealth Group LLC’s holdings in WEC Energy Group were worth $1,232,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in WEC Energy Group in the fourth quarter valued at about $28,000. Hoey Investments Inc. acquired a new stake in WEC Energy Group in the fourth quarter valued at about $42,000. Human Investing LLC acquired a new stake in WEC Energy Group in the fourth quarter valued at about $52,000. Finally, Cullen Frost Bankers Inc. lifted its position in WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 345 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.8%

Shares of WEC opened at $105.64 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $106.84 and a 200-day simple moving average of $102.69. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the company posted $1.97 EPS. The company’s revenue was up 17.5% on a year-over-year basis. Equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were paid a $0.8975 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group’s payout ratio is presently 69.59%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Barclays increased their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, Scotiabank set a $115.00 target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $107.13.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president now owns 2,686 shares in the company, valued at approximately $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

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.