Dynamic Advisor Solutions LLC Buys New Position in WEC Energy Group, Inc. (NYSE:WEC)

Dynamic Advisor Solutions LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,790 shares of the utilities provider's stock, valued at approximately $522,000.

Several other hedge funds have also recently added to or reduced their stakes in WEC. Larson Financial Group LLC increased its position in shares of WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after buying an additional 268 shares during the period. Prudent Man Investment Management Inc. bought a new stake in WEC Energy Group during the fourth quarter valued at $28,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group during the first quarter valued at $32,000. Hoey Investments Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth about $42,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after acquiring an additional 345 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

WEC has been the topic of several research analyst reports. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. 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 research note on Tuesday, April 29th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, 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 research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average target price of $107.13.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 2,686 shares of the company's stock, valued at $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 0.4%

NYSE WEC opened at $103.72 on Thursday. 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 52 week low of $77.47 and a 52 week high of $111.00. The business has a 50 day moving average price of $106.83 and a 200-day moving average price of $102.87. The company has a market cap of $33.10 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.86 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the firm posted $1.97 EPS. WEC Energy Group's revenue was up 17.5% compared to the same quarter last year. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share 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. Investors of record on Wednesday, May 14th were given a $0.8975 dividend. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.46%. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

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.

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