IFM Investors Pty Ltd Purchases 8,152 Shares of WEC Energy Group, Inc. (NYSE:WEC)

IFM Investors Pty Ltd lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,686 shares of the utilities provider's stock after buying 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 quarter.

Several other institutional investors also recently modified their holdings of WEC. Larson Financial Group LLC grew its position in shares of 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 worth $26,000 after buying an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC grew its position in shares of 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 worth $37,000 after buying an additional 245 shares during the period. Finally, Hoey Investments Inc. acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Up 0.7%

WEC traded up $0.75 during trading on Friday, reaching $104.50. 1,033,837 shares of the stock were exchanged, compared to its average volume of 2,151,025. The stock has a market cap of $33.35 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The stock's 50 day moving average price is $105.94 and its two-hundred day moving average price is $103.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its 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 for 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%. The firm's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.97 earnings per share. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS 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 $0.8975 dividend. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's payout ratio is currently 69.59%.

Analyst Upgrades and Downgrades

WEC has been the subject of a number of analyst reports. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. 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 report on Tuesday, April 29th. Wells Fargo & Company lifted their price target 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. Finally, JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.