Adage Capital Partners GP L.L.C. Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Adage Capital Partners GP L.L.C. purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 295,608 shares of the utilities provider's stock, valued at approximately $27,799,000. Adage Capital Partners GP L.L.C. owned about 0.09% of WEC Energy Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WEC. World Investment Advisors LLC raised its stake in shares of WEC Energy Group by 15.6% during the 3rd quarter. World Investment Advisors LLC now owns 21,075 shares of the utilities provider's stock worth $2,027,000 after buying an additional 2,845 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in WEC Energy Group by 238.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 12,421 shares of the utilities provider's stock worth $1,195,000 after purchasing an additional 8,751 shares in the last quarter. Tidal Investments LLC increased its position in WEC Energy Group by 3.9% during the 3rd quarter. Tidal Investments LLC now owns 4,428 shares of the utilities provider's stock worth $426,000 after purchasing an additional 166 shares in the last quarter. Synovus Financial Corp increased its position in WEC Energy Group by 4.7% during the 3rd quarter. Synovus Financial Corp now owns 2,980 shares of the utilities provider's stock worth $287,000 after purchasing an additional 135 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in WEC Energy Group by 56.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 6,523 shares of the utilities provider's stock worth $627,000 after purchasing an additional 2,358 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Barclays lifted their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $105.38.

WEC Energy Group Trading Down 0.3 %

Shares of NYSE:WEC traded down $0.37 during trading on Thursday, reaching $109.16. 599,931 shares of the stock were exchanged, compared to its average volume of 2,136,193. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The firm has a market cap of $34.83 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The firm's 50-day moving average price is $106.71 and its 200 day moving average price is $100.93.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.29%. WEC Energy Group's payout ratio is 73.91%.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 25,000 shares of the business's 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 approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.