WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,376 shares of the utilities provider’s stock after selling 18,686 shares during the period. Leeward Investments LLC MA’s holdings in WEC Energy Group were worth $13,555,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its stake in shares of WEC Energy Group by 7.9% in the first quarter. Checchi Capital Advisers LLC now owns 2,974 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 218 shares during the period. D.A. Davidson & CO. lifted its holdings in WEC Energy Group by 11.9% during the 1st quarter. D.A. Davidson & CO. now owns 15,709 shares of the utilities provider’s stock worth $1,712,000 after buying an additional 1,669 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in WEC Energy Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 27,253 shares of the utilities provider’s stock valued at $2,970,000 after buying an additional 120 shares during the period. Clark Asset Management LLC purchased a new position in WEC Energy Group during the 1st quarter worth approximately $201,000. Finally, Teacher Retirement System of Texas increased its position in WEC Energy Group by 1,462.9% during the first quarter. Teacher Retirement System of Texas now owns 46,247 shares of the utilities provider’s stock worth $5,040,000 after buying an additional 43,288 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 0.7%

Shares of NYSE:WEC opened at $104.50 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 company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $106.00 and its 200-day simple moving average is $103.41. The company has a market cap of $33.35 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.85 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its 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 company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.97 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Wednesday, May 14th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio is currently 69.59%.

Analyst Ratings Changes

WEC has been the subject of several research analyst reports. Wells Fargo & Company increased 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 increased their price target on shares of 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. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 29th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and upped 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 stock an “outperform” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $106.33.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm’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 completion of the sale, the vice president owned 2,686 shares of the company’s stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.