Campbell Newman Asset Management Inc. Makes New $23.22 Million Investment in WEC Energy Group, Inc. (NYSE:WEC)

Campbell Newman Asset Management Inc. acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 213,058 shares of the utilities provider's stock, valued at approximately $23,219,000. WEC Energy Group comprises 2.0% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 21st largest position. Campbell Newman Asset Management Inc. owned about 0.07% of WEC Energy Group as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC raised its holdings in WEC Energy Group by 23.1% during the 4th quarter. Empowered Funds LLC now owns 14,281 shares of the utilities provider's stock valued at $1,343,000 after acquiring an additional 2,680 shares during the period. Focus Financial Network Inc. raised its holdings in WEC Energy Group by 31.5% during the 4th quarter. Focus Financial Network Inc. now owns 5,320 shares of the utilities provider's stock valued at $500,000 after acquiring an additional 1,274 shares during the period. Essex Financial Services Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at $202,000. Allspring Global Investments Holdings LLC raised its holdings in WEC Energy Group by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 142,821 shares of the utilities provider's stock valued at $13,424,000 after acquiring an additional 10,607 shares during the period. Finally, Van ECK Associates Corp raised its holdings in WEC Energy Group by 30.8% during the 4th quarter. Van ECK Associates Corp now owns 156,248 shares of the utilities provider's stock valued at $14,694,000 after acquiring an additional 36,787 shares during the period. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Price Performance

WEC traded down $1.52 during trading on Friday, reaching $104.92. The stock had a trading volume of 1,724,704 shares, compared to its average volume of 2,145,480. The business has a 50-day moving average of $106.83 and a 200-day moving average of $102.83. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The stock has a market cap of $33.48 billion, a PE ratio of 21.72, a PEG ratio of 2.60 and a beta of 0.45. 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 (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the firm earned $1.97 earnings per share. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Wednesday, May 14th. WEC Energy Group's dividend payout ratio is currently 69.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Barclays increased their price objective 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. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $107.13.

Insider Transactions at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction dated 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 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 is accessible through this hyperlink. 0.50% of the stock is currently owned by company 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.