Franklin Parlapiano Turner & Welch LLC Sells 2,938 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Franklin Parlapiano Turner & Welch LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,624 shares of the utilities provider's stock after selling 2,938 shares during the period. WEC Energy Group comprises approximately 2.7% of Franklin Parlapiano Turner & Welch LLC's holdings, making the stock its 7th biggest holding. Franklin Parlapiano Turner & Welch LLC's holdings in WEC Energy Group were worth $9,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. New York Life Investment Management LLC lifted its position in WEC Energy Group by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 42,341 shares of the utilities provider's stock worth $3,982,000 after buying an additional 362 shares during the period. Oppenheimer & Co. Inc. increased its stake in WEC Energy Group by 2.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,264 shares of the utilities provider's stock worth $2,188,000 after acquiring an additional 623 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $70,000. QRG Capital Management Inc. increased its position in shares of WEC Energy Group by 16.5% in the fourth quarter. QRG Capital Management Inc. now owns 13,972 shares of the utilities provider's stock worth $1,314,000 after acquiring an additional 1,981 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of WEC Energy Group by 10.4% in the 4th quarter. Private Trust Co. NA now owns 5,952 shares of the utilities provider's stock valued at $560,000 after acquiring an additional 563 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC traded down $1.01 during mid-day trading on Wednesday, hitting $103.74. The stock had a trading volume of 2,148,239 shares, compared to its average volume of 2,148,678. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The company has a market cap of $33.11 billion, a PE ratio of 20.22, a PEG ratio of 2.88 and a beta of 0.44. The company's fifty day simple moving average is $106.09 and its two-hundred day simple moving average is $103.34.

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 for the quarter, beating analysts' consensus estimates 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 in the prior year, the firm earned $1.97 EPS. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently declared 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 an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.46%. WEC Energy Group's payout ratio is 69.59%.

Insider Activity at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction dated 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 directly owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on WEC shares. 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. Barclays upped their target price 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. Wells Fargo & Company raised their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of 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 research note on Tuesday, April 8th. Finally, Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $106.33.

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.