12,957 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Heritage Family Offices LLP

Heritage Family Offices LLP bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 12,957 shares of the utilities provider's stock, valued at approximately $1,412,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock worth $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Geode Capital Management LLC lifted its stake in WEC Energy Group by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock valued at $756,423,000 after purchasing an additional 110,802 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of WEC Energy Group by 3.1% during the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock worth $538,112,000 after acquiring an additional 173,006 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after buying an additional 699,177 shares during the period. Finally, Invesco Ltd. lifted its position in shares of WEC Energy Group by 7.9% in the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock valued at $396,114,000 after acquiring an additional 309,697 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president now directly owns 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Down 1.5%

NYSE WEC traded down $1.59 during trading hours on Wednesday, reaching $105.78. 1,553,743 shares of the company's stock were exchanged, compared to its average volume of 2,124,968. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The company's 50-day moving average is $107.03 and its two-hundred day moving average is $102.55. The company has a market capitalization of $33.76 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46.

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

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a yield of 3.39%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's payout ratio is presently 69.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WEC shares. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets upped their target price 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. Barclays lifted their price objective 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. Finally, Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $107.13.

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.