Millennium Management LLC Buys 73,126 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Millennium Management LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 82.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 162,114 shares of the utilities provider's stock after purchasing an additional 73,126 shares during the period. Millennium Management LLC owned 0.05% of WEC Energy Group worth $15,245,000 at the end of the most recent quarter.

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

WEC Energy Group Stock Down 1.3%

Shares of WEC traded down $1.35 during trading hours on Wednesday, reaching $106.21. The stock had a trading volume of 147,795 shares, compared to its average volume of 2,137,982. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The company has a market capitalization of $33.89 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.60 and a beta of 0.46. The firm has a 50-day simple moving average of $106.94 and a 200 day simple moving average of $102.24. 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 (NYSE:WEC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.09. The firm had revenue of $3.15 billion for 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%. The business's revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.97 earnings per share. Equities research analysts predict 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 will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.38%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is currently 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.