Inspirion Wealth Advisors LLC Trims Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Inspirion Wealth Advisors LLC reduced its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 55.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,195 shares of the utilities provider's stock after selling 2,678 shares during the period. Inspirion Wealth Advisors LLC's holdings in WEC Energy Group were worth $239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hummer Financial Advisory Services Inc grew its position in WEC Energy Group by 4.7% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 11,622 shares of the utilities provider's stock worth $1,267,000 after purchasing an additional 521 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of WEC Energy Group by 2.0% during the first quarter. Gradient Investments LLC now owns 6,141 shares of the utilities provider's stock worth $669,000 after buying an additional 120 shares during the period. NBC Securities Inc. acquired a new stake in shares of WEC Energy Group during the first quarter worth $81,000. Fiduciary Alliance LLC purchased a new stake in shares of WEC Energy Group during the first quarter valued at $1,027,000. Finally, Baker Tilly Wealth Management LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

Insider Activity

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm's 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 transaction, the vice president now owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

WEC Energy Group Stock Performance

WEC stock traded down $1.59 during midday trading on Wednesday, hitting $105.78. 1,553,743 shares of the stock traded hands, compared to its average volume of 2,279,011. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock's fifty day simple moving average is $107.03 and its 200-day simple moving average is $102.55. The firm has a market cap of $33.76 billion, a P/E ratio of 21.90, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly 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 company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group's quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 EPS. On average, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current 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 issued a dividend of $0.8975 per share. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is presently 69.59%.

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.