Mackenzie Financial Corp Cuts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Mackenzie Financial Corp cut its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 52.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,921 shares of the utilities provider's stock after selling 43,272 shares during the quarter. Mackenzie Financial Corp's holdings in WEC Energy Group were worth $3,660,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after acquiring an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth about $28,000. Hoey Investments Inc. bought a new position in WEC Energy Group during the fourth quarter worth about $42,000. Human Investing LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 345 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WEC has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Finally, Barclays raised their target price on 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $107.13.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua M. Erickson sold 2,155 shares of the 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 completion of the transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded up $1.49 during trading on Friday, hitting $107.51. The stock had a trading volume of 2,612,257 shares, compared to its average volume of 2,134,850. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The firm has a market cap of $34.31 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 2.60 and a beta of 0.46. The business's 50-day moving average is $106.98 and its 200 day moving average is $102.41.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced 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. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company earned $1.97 EPS. The company's quarterly revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a $0.8975 dividend. This represents a $3.59 annualized dividend and a dividend yield of 3.34%. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group's dividend payout ratio is 69.59%.

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.