WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by TBH Global Asset Management LLC

TBH Global Asset Management LLC lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,955 shares of the utilities provider’s stock after selling 491 shares during the quarter. TBH Global Asset Management LLC’s holdings in WEC Energy Group were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WEC. New York Life Investment Management LLC grew its stake in WEC Energy Group by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 42,341 shares of the utilities provider’s stock valued at $3,982,000 after purchasing an additional 362 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in WEC Energy Group by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,264 shares of the utilities provider’s stock valued at $2,188,000 after purchasing an additional 623 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in WEC Energy Group during the 4th quarter valued at approximately $70,000. QRG Capital Management Inc. grew its stake in WEC Energy Group by 16.5% during the 4th quarter. QRG Capital Management Inc. now owns 13,972 shares of the utilities provider’s stock valued at $1,314,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of WEC Energy Group by 10.4% in the 4th quarter. Private Trust Co. NA now owns 5,952 shares of the utilities provider’s stock worth $560,000 after acquiring an additional 563 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.2%

Shares of NYSE WEC opened at $103.09 on Friday. The company has a market cap of $32.90 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.83 and a beta of 0.45. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. The stock’s 50 day simple moving average is $106.34 and its 200 day simple moving average is $103.22.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (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 12.94% and a net margin of 17.95%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $1.97 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders 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 represents a $3.59 annualized dividend and a yield of 3.48%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is presently 69.59%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $106.00 to $100.00 in a research report on Wednesday. Barclays lifted their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $106.33.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the sale, the vice president now owns 2,686 shares of the company’s stock, valued at $289,470.22. The trade was a 44.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.

About WEC Energy Group

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.