M&T Bank Corp Decreases Stake in WEC Energy Group, Inc. (NYSE:WEC)

M&T Bank Corp trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,240 shares of the utilities provider's stock after selling 4,261 shares during the period. M&T Bank Corp's holdings in WEC Energy Group were worth $1,988,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in WEC Energy Group during the fourth quarter worth $70,000. Moors & Cabot Inc. lifted its stake in WEC Energy Group by 3.2% during the fourth quarter. Moors & Cabot Inc. now owns 5,503 shares of the utilities provider's stock worth $518,000 after purchasing an additional 172 shares in the last quarter. HighTower Advisors LLC lifted its stake in WEC Energy Group by 13.3% during the fourth quarter. HighTower Advisors LLC now owns 113,927 shares of the utilities provider's stock worth $10,714,000 after purchasing an additional 13,410 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of WEC Energy Group by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 54,747 shares of the utilities provider's stock valued at $5,148,000 after acquiring an additional 1,692 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at $3,403,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

NYSE:WEC traded down $0.19 during mid-day trading on Friday, reaching $105.49. The stock had a trading volume of 1,631,851 shares, compared to its average volume of 2,155,152. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50. The firm has a market capitalization of $33.67 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.90 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $79.47 and a twelve month high of $111.00. The business has a 50 day simple moving average of $105.52 and a 200 day simple moving average of $103.90.

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

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's payout ratio is currently 69.59%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company raised their price target 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. Barclays raised their price target 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. UBS Group raised their price target on WEC Energy Group from $105.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $106.40.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group 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 value of $232,244.35. Following the completion of the sale, the vice president owned 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

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.