Janney Montgomery Scott LLC Increases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Janney Montgomery Scott LLC boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,027 shares of the utilities provider's stock after purchasing an additional 10,044 shares during the quarter. Janney Montgomery Scott LLC's holdings in WEC Energy Group were worth $8,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC bought a new stake in WEC Energy Group during the first quarter valued at about $522,000. Optas LLC bought a new stake in WEC Energy Group during the first quarter valued at about $329,000. Trust Point Inc. bought a new stake in WEC Energy Group during the first quarter valued at about $213,000. Clean Yield Group boosted its position in WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after purchasing an additional 97 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in WEC Energy Group during the first quarter valued at about $42,527,000. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Up 0.2%

NYSE WEC traded up $0.22 during trading on Friday, hitting $104.05. The company's stock had a trading volume of 3,183,330 shares, compared to its average volume of 2,039,871. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. The company has a market cap of $33.20 billion, a PE ratio of 20.08, a P/E/G ratio of 2.86 and a beta of 0.45. The business's 50 day simple moving average is $106.74 and its 200-day simple moving average is $102.97. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the business posted $1.97 earnings per share. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were paid a $0.8975 dividend. This represents a $3.59 annualized dividend and a dividend yield of 3.45%. This is a boost 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 dividend payout ratio (DPR) is presently 69.59%.

Analyst Ratings Changes

WEC has been the topic of a number of recent research reports. Barclays raised their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday. Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of "Hold" and a consensus price target of $107.13.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

About WEC Energy Group

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.