GAMMA Investing LLC Buys 1,819,782 Shares of WEC Energy Group, Inc. (NYSE:WEC)

GAMMA Investing LLC lifted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 12,777.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,834,024 shares of the utilities provider's stock after acquiring an additional 1,819,782 shares during the quarter. GAMMA Investing LLC owned 0.57% of WEC Energy Group worth $199,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC bought a new stake in WEC Energy Group in the 4th quarter worth approximately $271,000. Caprock Group LLC purchased a new position in shares of WEC Energy Group in the 4th quarter worth $249,000. Custom Index Systems LLC bought a new stake in shares of WEC Energy Group in the fourth quarter worth $238,000. Callan Family Office LLC bought a new stake in shares of WEC Energy Group in the fourth quarter worth $369,000. Finally, JPMorgan Chase & Co. increased its position in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after acquiring an additional 699,177 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $232,244.35. Following the sale, the vice president now directly owns 2,686 shares of the company's stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

WEC Energy Group Price Performance

Shares of WEC traded down $1.50 during trading hours on Wednesday, reaching $105.87. 895,346 shares of the stock traded hands, compared to its average volume of 2,125,912. The company has a market cap of $33.79 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company's 50-day moving average price is $107.03 and its two-hundred day moving average price is $102.55. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business's revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.97 earnings per share. On average, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Wednesday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is 69.59%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company raised their target price on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets increased their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 5th. Finally, Barclays boosted their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $107.13.

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.