Burling Wealth Partners LLC Has $1.48 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Burling Wealth Partners LLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 19.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,561 shares of the utilities provider's stock after selling 3,295 shares during the quarter. Burling Wealth Partners LLC's holdings in WEC Energy Group were worth $1,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Marcum Wealth LLC increased its holdings in WEC Energy Group by 1.3% during the 1st quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock worth $808,000 after purchasing an additional 93 shares during the last quarter. Clean Yield Group increased its holdings in WEC Energy Group by 12.6% during the 1st quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock worth $94,000 after purchasing an additional 97 shares during the last quarter. MJP Associates Inc. ADV increased its holdings in WEC Energy Group by 3.4% during the 4th quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock worth $284,000 after purchasing an additional 98 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in shares of WEC Energy Group by 3.0% in the 1st quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock valued at $363,000 after acquiring an additional 98 shares during the last quarter. Finally, Peak Financial Advisors LLC increased its holdings in shares of WEC Energy Group by 1.9% in the 1st quarter. Peak Financial Advisors LLC now owns 5,339 shares of the utilities provider's stock valued at $582,000 after acquiring an additional 100 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at WEC Energy Group

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 stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president owned 2,686 shares in the company, valued at approximately $289,470.22. The trade was a 44.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

WEC Energy Group Stock Performance

WEC stock traded up $1.56 during trading on Friday, reaching $107.76. 2,049,288 shares of the company's stock were exchanged, compared to its average volume of 2,156,493. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. WEC Energy Group, Inc. has a 1-year low of $81.13 and a 1-year high of $111.00. The company's fifty day moving average price is $105.26 and its 200-day moving average price is $104.14. The firm has a market cap of $34.39 billion, a PE ratio of 21.01, a P/E/G ratio of 2.92 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm posted $1.97 EPS. The firm's quarterly revenue was up 17.5% on a year-over-year basis. On average, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.31%. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Analyst Upgrades and Downgrades

WEC has been the subject of a number of research analyst reports. Barclays boosted 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, April 29th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $106.40.

About WEC Energy Group

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.