Blackhawk Capital Partners LLC. Sells 5,992 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Blackhawk Capital Partners LLC. trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 34.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,595 shares of the utilities provider’s stock after selling 5,992 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in WEC Energy Group were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of WEC. Wellington Management Group LLP boosted its stake in shares of WEC Energy Group by 134.2% in the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares during the last quarter. GAMMA Investing LLC boosted its position in WEC Energy Group by 12,777.6% during the first quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider’s stock valued at $199,872,000 after acquiring an additional 1,819,782 shares during the last quarter. Janus Henderson Group PLC boosted its position in WEC Energy Group by 3,815.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider’s stock valued at $138,342,000 after acquiring an additional 1,433,522 shares during the last quarter. Talaria Asset Management Pty Ltd bought a new stake in WEC Energy Group during the fourth quarter valued at $53,970,000. Finally, Nuveen Asset Management LLC boosted its position in WEC Energy Group by 15.4% during the fourth quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider’s stock valued at $370,128,000 after acquiring an additional 526,014 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $104.33 on Tuesday. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The firm has a 50-day moving average of $105.85 and a 200-day moving average of $103.69. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. The company has a market cap of $33.29 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.86 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data 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 net margin of 17.95% and a return on equity of 12.94%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company posted $1.97 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal 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 given 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 of this dividend 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 (DPR) is currently 69.59%.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of research analyst reports. The Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. 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. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 29th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Finally, Barclays increased their target price 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $106.33.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction dated 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 transaction, the vice president owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.

WEC Energy Group Company 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.