WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Marshall Financial Group LLC

Marshall Financial Group LLC trimmed its stake in WEC Energy Group, Inc. (NYSE:WEC) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,066 shares of the utilities provider’s stock after selling 132 shares during the period. Marshall Financial Group LLC’s holdings in WEC Energy Group were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WEC. Marcum Wealth LLC increased its position in shares of WEC Energy Group by 1.3% during the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider’s stock worth $808,000 after purchasing an additional 93 shares in the last quarter. Clean Yield Group increased its position in WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider’s stock worth $94,000 after buying an additional 97 shares during the period. MJP Associates Inc. ADV increased its position in WEC Energy Group by 3.4% during the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider’s stock worth $284,000 after buying an additional 98 shares during the period. Peak Financial Advisors LLC lifted its stake in WEC Energy Group by 1.9% in the first quarter. Peak Financial Advisors LLC now owns 5,339 shares of the utilities provider’s stock valued at $582,000 after buying an additional 100 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of WEC Energy Group by 1.9% in the fourth quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 109 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Trading Down 1.4%

NYSE WEC opened at $104.92 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $33.48 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The firm has a 50-day moving average price of $106.83 and a 200 day moving average price of $102.82.

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

WEC Energy Group Increases Dividend

The business also recently declared 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 of this dividend was Wednesday, May 14th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.42%. WEC Energy Group’s dividend payout ratio is 69.59%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 2,686 shares of the company’s stock, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.