GAMMA Investing LLC Buys 2,587 Shares of WEC Energy Group, Inc. (NYSE:WEC)

GAMMA Investing LLC boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,829 shares of the utilities provider's stock after acquiring an additional 2,587 shares during the quarter. GAMMA Investing LLC's holdings in WEC Energy Group were worth $1,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clean Yield Group boosted its position in WEC Energy Group by 12.6% in the first quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after buying an additional 97 shares in the last quarter. Callan Family Office LLC acquired a new position in WEC Energy Group in the fourth quarter valued at about $369,000. Wealthcare Advisory Partners LLC boosted its position in WEC Energy Group by 4.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,774 shares of the utilities provider's stock valued at $302,000 after buying an additional 116 shares in the last quarter. Teacher Retirement System of Texas boosted its position in WEC Energy Group by 39.9% in the fourth quarter. Teacher Retirement System of Texas now owns 2,959 shares of the utilities provider's stock valued at $278,000 after buying an additional 844 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in WEC Energy Group by 41.4% in the fourth quarter. Jones Financial Companies Lllp now owns 10,872 shares of the utilities provider's stock valued at $1,022,000 after buying an additional 3,181 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president now owns 2,686 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Trading Down 0.2%

WEC opened at $103.09 on Friday. 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 cap of $32.90 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.83 and a beta of 0.45. The firm has a 50 day simple moving average of $106.34 and a 200 day simple moving average of $103.22. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week 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, topping analysts' consensus estimates of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. WEC Energy Group's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 earnings per share. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current 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 paid a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.48%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. WEC Energy Group's payout ratio is 69.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WEC shares. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Barclays upped their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, WEC Energy Group currently has a consensus rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.