Fiduciary Alliance LLC Purchases New Position in WEC Energy Group, Inc. (NYSE:WEC)

Fiduciary Alliance LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,422 shares of the utilities provider's stock, valued at approximately $1,027,000.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after purchasing an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $28,000. Hoey Investments Inc. purchased a new position in shares of WEC Energy Group in the 4th quarter worth approximately $42,000. Human Investing LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $52,000. Finally, Cullen Frost Bankers Inc. lifted its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 345 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WEC shares. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $107.13.

WEC Energy Group Stock Performance

Shares of NYSE WEC traded down $1.59 during mid-day trading on Wednesday, hitting $105.78. The stock had a trading volume of 1,553,743 shares, compared to its average volume of 2,127,568. The firm has a market cap of $33.76 billion, a PE ratio of 21.90, a PEG ratio of 2.60 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a 50 day moving average of $107.03 and a two-hundred day moving average of $102.55. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00.

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 for the quarter, beating the consensus estimate 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 business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the business earned $1.97 EPS. The company's quarterly revenue was up 17.5% compared to the same quarter last year. Research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS 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 issued a $0.8975 dividend. This represents a $3.59 annualized dividend and a yield of 3.39%. The ex-dividend date was Wednesday, May 14th. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is 69.59%.

Insiders Place Their Bets

In other news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by 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.