WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,055 shares of the utilities provider's stock after selling 3,418 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in WEC Energy Group were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after buying an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $28,000. Hoey Investments Inc. purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $42,000. Human Investing LLC acquired a new position in WEC Energy Group during the fourth quarter worth approximately $52,000. Finally, Cullen Frost Bankers Inc. raised its stake in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after purchasing an additional 345 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company upped their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. BMO Capital Markets increased their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 5th. Finally, Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average price target of $104.38.

Insider Activity

In other news, 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 completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction 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 sale, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 0.4 %

WEC Energy Group stock traded up $0.46 during midday trading on Monday, hitting $108.19. 239,746 shares of the company were exchanged, compared to its average volume of 2,140,227. The company has a market cap of $34.52 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The company's fifty day moving average price is $106.38 and its 200-day moving average price is $100.72. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $0.8975 dividend. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group's dividend payout ratio is presently 73.91%.

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.