WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 17.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,998 shares of the utilities provider's stock after purchasing an additional 23,804 shares during the period. AE Wealth Management LLC owned about 0.05% of WEC Energy Group worth $17,872,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WEC. Prudent Man Investment Management Inc. purchased a new position in WEC Energy Group in the 4th quarter valued at about $28,000. Hughes Financial Services LLC purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group in the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC raised its holdings in WEC Energy Group by 252.6% in the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Finally, Creekmur Asset Management LLC lifted its stake in shares of WEC Energy Group by 2,420.0% during the 1st quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock worth $41,000 after purchasing an additional 363 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 0.6%

Shares of NYSE:WEC traded up $0.62 during midday trading on Thursday, reaching $109.65. The company had a trading volume of 1,297,679 shares, compared to its average volume of 1,734,900. The stock has a market capitalization of $34.99 billion, a P/E ratio of 21.38, a PEG ratio of 3.00 and a beta of 0.44. The stock's fifty day moving average price is $105.69 and its 200-day moving average price is $104.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. WEC Energy Group, Inc. has a one year low of $82.90 and a one year high of $111.00.

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

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be issued a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.26%. WEC Energy Group's dividend payout ratio (DPR) is 69.59%.

Insider Activity

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company raised their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Barclays increased their target price on 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. Finally, Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $106.40.

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.