3,856 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,856 shares of the utilities provider's stock, valued at approximately $420,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its position in shares of WEC Energy Group by 2.1% during the 4th quarter. D.A. Davidson & CO. now owns 14,040 shares of the utilities provider's stock worth $1,320,000 after purchasing an additional 288 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in WEC Energy Group by 46.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 20,394 shares of the utilities provider's stock worth $1,918,000 after acquiring an additional 6,434 shares during the period. Kestra Investment Management LLC purchased a new position in WEC Energy Group in the 4th quarter valued at $61,000. Global Retirement Partners LLC boosted its holdings in shares of WEC Energy Group by 3.4% in the fourth quarter. Global Retirement Partners LLC now owns 21,414 shares of the utilities provider's stock valued at $2,014,000 after acquiring an additional 709 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in WEC Energy Group by 5.4% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,275 shares of the utilities provider's stock valued at $2,001,000 after purchasing an additional 1,097 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 0.2%

Shares of WEC Energy Group stock opened at $104.05 on Friday. 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 business has a 50 day moving average price of $106.74 and a 200 day moving average price of $102.94. The company has a market capitalization of $33.20 billion, a P/E ratio of 20.28, a P/E/G ratio of 2.85 and a beta of 0.45. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company earned $1.97 earnings per share. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.45%. 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%.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 2,155 shares of the company'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 transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Barclays upped 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 report on Tuesday, April 29th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has an average rating of "Hold" and a consensus target price of $107.13.

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.

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