9,197 Shares in WEC Energy Group, Inc. (NYSE:WEC) Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,197 shares of the utilities provider's stock, valued at approximately $1,002,000.

Several other institutional investors have also bought and sold shares of WEC. ING Groep NV grew its stake in WEC Energy Group by 98.8% in the 4th quarter. ING Groep NV now owns 12,805 shares of the utilities provider's stock valued at $1,204,000 after purchasing an additional 6,364 shares during the period. First Horizon Advisors Inc. grew its stake in WEC Energy Group by 30.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,254 shares of the utilities provider's stock valued at $118,000 after purchasing an additional 290 shares during the period. Wealthspire Advisors LLC grew its stake in WEC Energy Group by 3.6% in the 4th quarter. Wealthspire Advisors LLC now owns 9,527 shares of the utilities provider's stock valued at $896,000 after purchasing an additional 327 shares during the period. Capital Advisors Ltd. LLC grew its stake in WEC Energy Group by 14.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 118 shares during the period. Finally, IFP Advisors Inc grew its stake in WEC Energy Group by 10.7% in the 4th quarter. IFP Advisors Inc now owns 12,978 shares of the utilities provider's stock valued at $1,221,000 after purchasing an additional 1,250 shares during the period. Institutional investors own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WEC. Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their price objective on 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 WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Finally, Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, WEC Energy Group has an average rating of "Hold" and a consensus target price of $107.13.

WEC Energy Group Price Performance

WEC traded down $0.11 during trading on Tuesday, reaching $105.39. 1,442,965 shares of the company were exchanged, compared to its average volume of 2,137,175. The company's 50-day moving average is $106.63 and its two-hundred day moving average is $103.08. The company has a market cap of $33.63 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.90 and a beta of 0.45. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. The firm's quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Wednesday, May 14th. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) is 69.59%.

Insider Activity

In other news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through this link. Corporate 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.