WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 8.5% during the first quarter, Holdings Channel.com reports. The firm owned 1,325 shares of the utilities provider’s stock after selling 123 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in WEC Energy Group were worth $144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WEC. Empowered Funds LLC boosted its holdings in WEC Energy Group by 23.1% in the 4th quarter. Empowered Funds LLC now owns 14,281 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 2,680 shares in the last quarter. Focus Financial Network Inc. boosted its stake in shares of WEC Energy Group by 31.5% during the 4th quarter. Focus Financial Network Inc. now owns 5,320 shares of the utilities provider’s stock worth $500,000 after acquiring an additional 1,274 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $202,000. Allspring Global Investments Holdings LLC boosted its stake in shares of WEC Energy Group by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 142,821 shares of the utilities provider’s stock worth $13,424,000 after acquiring an additional 10,607 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of WEC Energy Group by 30.8% during the 4th quarter. Van ECK Associates Corp now owns 156,248 shares of the utilities provider’s stock worth $14,694,000 after acquiring an additional 36,787 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 1.4%

Shares of WEC opened at $104.92 on Friday. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The stock has a fifty day moving average of $106.83 and a two-hundred day moving average of $102.82. The company has a market capitalization of $33.48 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the company earned $1.97 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.8975 per share. The ex-dividend date was Wednesday, May 14th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.42%. WEC Energy Group’s payout ratio is currently 69.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays boosted their price target on WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $107.13.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of the company’s 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 completion of the sale, the vice president now directly owns 2,686 shares of the company’s stock, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.