WEC Energy Group, Inc. (NYSE:WEC) Stake Cut by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,040 shares of the utilities provider's stock after selling 7,400 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.05% of WEC Energy Group worth $18,749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $28,000. Hoey Investments Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $42,000. Human Investing LLC bought a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $52,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of WEC Energy Group by 140.8% in the 4th 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

WEC has been the subject of a number of research analyst reports. Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Barclays boosted their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. 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. Finally, JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $107.13.

WEC Energy Group Stock Performance

WEC traded down $1.52 during trading on Friday, reaching $104.92. 1,724,704 shares of the company were exchanged, compared to its average volume of 2,145,480. The stock has a market cap of $33.48 billion, a P/E ratio of 21.72, a PEG ratio of 2.60 and a beta of 0.45. The firm has a 50 day moving average of $106.83 and a 200 day moving average of $102.83. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. 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 results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm posted $1.97 EPS. The firm's quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a yield of 3.42%. 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 payout ratio is 69.59%.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president now owns 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Company 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.