IFM Investors Pty Ltd Boosts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

IFM Investors Pty Ltd boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 9.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 94,686 shares of the utilities provider's stock after purchasing an additional 8,152 shares during the quarter. IFM Investors Pty Ltd's holdings in WEC Energy Group were worth $10,319,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WEC. Larson Financial Group LLC grew its position in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group during the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group during the 1st quarter valued at about $32,000. Golden State Wealth Management LLC lifted its stake in WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 245 shares during the period. Finally, Hoey Investments Inc. bought a new position in WEC Energy Group during the 4th quarter valued at about $42,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

NYSE WEC traded down $0.01 on Monday, reaching $104.33. 1,365,452 shares of the stock were exchanged, compared to its average volume of 2,147,912. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The firm has a market capitalization of $33.29 billion, a PE ratio of 20.34, a PEG ratio of 2.86 and a beta of 0.44. The company's 50-day simple moving average is $105.85 and its two-hundred day simple moving average is $103.69. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping 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 company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter last year, the business earned $1.97 EPS. The firm's revenue was up 17.5% compared to the same quarter last year. Analysts expect 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. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.8975 per share. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.44%. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Insider Buying and Selling

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm'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 transaction of $232,244.35. Following the sale, the vice president owned 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WEC shares. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. 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. Barclays increased their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $106.33.

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.