WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 30.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,792 shares of the utilities provider's stock after selling 21,539 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in WEC Energy Group were worth $5,426,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock worth $1,038,931,000 after purchasing an additional 6,329,574 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of WEC Energy Group by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock worth $756,423,000 after purchasing an additional 110,802 shares during the period. Deutsche Bank AG raised its holdings in shares of WEC Energy Group by 3.1% during the fourth quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock worth $538,112,000 after purchasing an additional 173,006 shares during the period. Invesco Ltd. lifted its position in shares of WEC Energy Group by 7.9% in the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock worth $396,114,000 after buying an additional 309,697 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of WEC Energy Group by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock valued at $370,128,000 after buying an additional 526,014 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Analysts Set New Price Targets

WEC has been the topic of several research reports. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Barclays raised their price target on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Wells Fargo & Company upped their price objective 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $107.13.

WEC Energy Group Stock Performance

WEC stock traded up $0.22 on Friday, reaching $104.05. The company's stock had a trading volume of 3,183,330 shares, compared to its average volume of 2,142,062. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. 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 company has a market capitalization of $33.20 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.45. The firm has a fifty day moving average of $106.74 and a two-hundred day moving average of $102.97.

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

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors 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 of this dividend 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 (DPR) is currently 69.59%.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president now directly owns 2,686 shares of the company's stock, valued at $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.