Westwood Holdings Group Inc. Sells 55,167 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Westwood Holdings Group Inc. reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 4.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,162,258 shares of the utilities provider’s stock after selling 55,167 shares during the period. WEC Energy Group accounts for about 0.8% of Westwood Holdings Group Inc.’s portfolio, making the stock its 22nd biggest position. Westwood Holdings Group Inc.’s holdings in WEC Energy Group were worth $109,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP purchased a new position in WEC Energy Group in the fourth quarter worth $13,767,000. Two Sigma Investments LP grew its holdings in shares of WEC Energy Group by 992.1% during the fourth quarter. Two Sigma Investments LP now owns 384,419 shares of the utilities provider’s stock valued at $36,151,000 after buying an additional 349,219 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of WEC Energy Group by 13.8% during the fourth quarter. Tidal Investments LLC now owns 5,040 shares of the utilities provider’s stock valued at $474,000 after buying an additional 612 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at $672,000. Finally, TrinityPoint Wealth LLC grew its holdings in shares of WEC Energy Group by 1.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,935 shares of the utilities provider’s stock valued at $1,028,000 after buying an additional 180 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Barclays boosted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. BMO Capital Markets boosted their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Finally, Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $107.13.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

WEC Energy Group Stock Up 1.5%

Shares of NYSE WEC opened at $106.50 on Monday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The stock has a market cap of $33.99 billion, a PE ratio of 22.05, a P/E/G ratio of 2.60 and a beta of 0.46. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average of $106.92 and a 200 day moving average of $101.75.

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 quarter in the prior year, the company earned $1.97 EPS. WEC Energy Group’s revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $0.8975 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.37%. WEC Energy Group’s dividend payout ratio is 69.59%.

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.